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- 1 compute the cost of goods sold for a retailer...
Question: 1 compute the cost of goods sold for a retailer...
Question details
1.) Compute the cost of goods sold for a retailer (does not have Raw Materials or Work in Process, only Finished Goods):
|
Ending Inventory |
$5,500 |
|
Website Maintenance |
$7,300 |
|
Sales Revenues |
$63,000 |
|
Freight-In |
$3,300 |
|
Import Duties |
$700 |
|
Marketing Expenses |
$12,000 |
|
Freight-Out |
$1,600 |
|
Purchases |
$45,000 |
|
Export Duties |
$500 |
|
Beginning Inventory |
$3,600 |
2.) Several items are missing for two different companies for the month of October.
Required: Determine the amount of the missing items by completing (in good form*) the inventory flow "template" and income statement.
In good form means proper headings (especially the income statement), legible, and accounts names are written out. Also, clearly mark answers for missing items. Please provide explanations, thank you for your help.
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