Two or more items are omitted in each of the following tabulations of income sta

Question

Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2013 2014 2015 Sales revenue $294,210 $Entry field with correct answer 362040 $413,810 Sales returns and allowances 11,500 13,350 Entry field with correct answer 17600 Net sales Entry field with correct answer 282710 348,690 Entry field with correct answer 396210 Beginning inventory 20,120 32,500 Entry field with incorrect answer Ending inventory Entry field with incorrect answer Entry field with incorrect answer Entry field with incorrect answer Purchases Entry field with incorrect answer now contains modified data 263,980 299,020 Purchase returns and allowances 5,500 8,230 10,510 Freight-in 8,140 9,210 12,180 Cost of goods sold 235,350 Entry field with correct answer 256100 297,360 Gross profit on sales 47,360 92,590 98,850

Explanation / Answer

ANSWER

2013 1014 2015 Sales Revenue 291090 362050 412520 Sales Returns & Allowannces 11300 13050 20230 Net sales 279790 349000 392290 Beginning inventory 20080 33080 38090 Ending inventory 33080 38,090 43910 Purchases 243700 260,350 299120 Purchase Returns & Allowannces 5440 8070 10310 Freight in 8200 9460 12220 Cost of goods sold 233460 256730 295210 Gross profit on sales 46330 92270 97080

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