Computing periodic Inventory amounts [10-15 min] Consider the data of the following com...

Computing periodic Inventory amounts [10-15 min]

Consider the data of the following companies:

Requirements

1. Supply the missing amounts in the table above.

2. Prepare the income statement for Ash Company, which uses the periodic inventory system. Include a complete heading and show the full computation of cost of goods sold. Ash’s operating expenses for the year were $10,000.