Homework Answers
Cost of goods sold=Beginning inventory+Purchase of inventory-Ending inventory
=46000+128000-52000
which is equal to
=$122000
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Streif Inc., a local retailer, has provided the following data for the month of June: Merchandise...
Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise...
Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance ...... Merchandise inventory, ending balance............ Sales Purchases of merchandise inventory ....... Selling expense Administrative expense........... $30,000 $34,000 $280,000 $146,000 $27,000 $64,000 DE.......... ............... The cost of goods sold for March was: O $237,000 O $150,000 O $142,000 O $146,000
Cherokee Inc. is a merchandiser that provided the following information: Amount 11,000 Number of units sold...
Cherokee Inc. is a merchandiser that provided the following information: Amount 11,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 18,000 $ 13,000 $ 10,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs...
Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000...
Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 15 $ 19,000 $ 14,000 8,000 $ 23,000 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information : Number of units sold Selling...
Cherokee Inc. is a merchandiser that provided the following information : Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 17 2 $ 2 $ 20,000 $ 13,000 $ 10,000 $ 23,000 $ 89,000 Required : 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser the provided the following information: Required: 1. prepare a traditional income...
Cherokee Inc. is a merchandiser the provided the following
information:
Required:
1. prepare a traditional income statement
2. prepare a contribution format income statement
Cherokee Inc. is a merchandiser that provided the following information Amount 13,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 20,000 $ 16,000 $ 9,000 $ 25,000 $ 87,000...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 10,000 Selling...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 10,000 Selling price per unit $ 17.00 Variable selling expense per unit $ 1.00 Variable administrative expense per unit $ 1.50 Total fixed selling expense $ 19,000 Total fixed administrative expense $ 13,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 24,000 Merchandise purchases $ 86,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 16 2 $ 2 $ 18,000 $ 13,000 $ 8,000 $ 25,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: A A A Number of units...
Cherokee Inc. is a merchandiser that provided the following information: A A A Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30 $ 4 $ 2. $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses:...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 13,000 $ 16 $ 1 $ 1 $20,000 $14,000 $10,000 $23,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 13,000 S 17.00 2.00 $1.00 $19,000 $ 16,000 S 8,000 $ 25,000 $88,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses...
Nieman Inc., a local retailer, has provided the following data for the month of March: Merchandise inventory, beginning balance ...... Merchandise inventory, ending balance............ Sales Purchases of merchandise inventory ....... Selling expense Administrative expense........... $30,000 $34,000 $280,000 $146,000 $27,000 $64,000 DE.......... ............... The cost of goods sold for March was: O $237,000 O $150,000 O $142,000 O $146,000
Cherokee Inc. is a merchandiser that provided the following information: Amount 11,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 18,000 $ 13,000 $ 10,000 $ 24,000 $ 85,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs...
Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 13,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 15 $ 19,000 $ 14,000 8,000 $ 23,000 $ 87,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser the provided the following
information:
Required:
1. prepare a traditional income statement
2. prepare a contribution format income statement
Cherokee Inc. is a merchandiser that provided the following information Amount 13,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 20,000 $ 16,000 $ 9,000 $ 25,000 $ 87,000...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 12,000 16 2 $ 2 $ 18,000 $ 13,000 $ 8,000 $ 25,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
Cherokee Inc. is a merchandiser that provided the following information: A A A Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 20,000 $ 30 $ 4 $ 2. $ 40,000 $ 30,000 $ 24,000 $ 44,000 $ 180,000 Required: 1. Prepare a traditional income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative expenses:...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Amount 13,000 $ 16 $ 1 $ 1 $20,000 $14,000 $10,000 $23,000 $ 88,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Cherokee, Inc. Traditional Income Statement Selling and administrative...
Cherokee Inc. is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 13,000 S 17.00 2.00 $1.00 $19,000 $ 16,000 S 8,000 $ 25,000 $88,000 Required: 1. Prepare a traditional income statement CHEROKEE, INC. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses...
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