Net sales | Beg. Inventory | Net purchases | Ending Inv. | COGS | Gross Profit | Expenses | Profit (Loss) | |||
a | 280000 | 76000 | 104000 | 35200 | 144800 | 135200 | 72000 | 63200 | (sales - GP) | (GP-exp.) |
b | 570000 | 73000 | 280000 | 89000 | 264000 | 306000 | 286000 | 20000 | (available inventory-COGS) | (Sales - COGS) |
c | 630000 | 180000 | 431000 | 170000 | 441000 | 189000 | 140000 | 49000 | (Net Pur. = End inv. + COGS - begin inven.) | Profit = GP - Exp. |
d | 780000 | 231000 | 450000 | 135000 | 546000 | 234000 | 270000 | -36000 | (COGS= Sales-GP) | beg. Inv.=end inv. + COGS- Net pur.) |
e | 480000 | 156000 | 434000 | 240000 | 350000 | 130000 | 145000 | -15000 | (sales=COGS+GP) |
Net Sales - (Beg. inv. + net purchases - ending inv. = COGS) = GP - Expenses = Profit/(Loss)
This exercise stresses This exercise stresses the relationships between the information recorded in a periodic inventory...
value: 15.00 points This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Input all amounts as positive values except net loss which should be indicated with a minus sign. Omit the "$" sign in your response.) Profit Cost of Goods Sold Beginning Inventory Net Purchases Ending Inventory 35,200...
Can anyone please help fill in the remaining blanks. Thank you
so much.
Required information Exercise 12-11 Indirect: Preparing statement of cash flows LO P2, P3, A1 [The following information applies to the questions displayed below.] The following financial statements and additional information are reported. IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 $ 50,000 57,000 95,500 6,600 209,100 121,000 (12,000) $318,100 Assets Cash $103,900 Accounts receivable, net 74,000 Inventory 69,800 Prepaid expenses 5,000 Total current...