Question

Supply the missing dollar amounts for each of the following independent cases: 

Answer 1

Cases	Sales revenue	Beginning	Purchases	Total	Ending	Cost of	Gross Profit	Selling and	Income from
		Inventory		Available	Inventory	Goods Sold		General Expense	Operations
A	$          800.00	$     100.00	$     700.00	$              800.00	$                500.00	$              300.00	$     500.00	$               200.00	$      300.00
B	$          900.00	$     200.00	$     700.00	$              900.00	$              150.00	$              750.00	$     150.00	$               150.00	$              -
C	$        600.00	$     100.00	$    300.00	$              400.00	$                200.00	$                200.00	$      400.00	$               150.00	$      250.00
D	$          800.00	$    150.00	$     600.00	$              750.00	$                300.00	$              450.00	$     350.00	$               250.00	$       100.00
Explanation
Total Available = Beginning inventory + Purchases
Ending inventory = Total available - Cost of goods sold
Cost of goods sold = Total Available - Ending inventory
Gross Profit = Sales revenue - Cost of goods sold
Income from operations = Gross profit - Selling and general expenses