testout 9.15.13 Determining Amounts for Items Omitted from Income Statement test

Question

testout 9.15.13
Determining Amounts for Items Omitted from Income Statement testout 9.15.13
Determining Amounts for Items Omitted from Income Statement testout 9.15.13
Determining Amounts for Items Omitted from Income Statement testout 9.15.13
Determining Amounts for Items Omitted from Income Statement ssignment/takeAssignment Main do?invoker-assignments&tak; or-assignment-take&inprogress; false eBook Show Me How Calculator Determining Amounts for Items Omitted from Income Statement An item has been omitted in each of the following four lists of income statement data $426,500 (a) 83,830 334,950 84,270 $1,245,000 775,000 (c) 438,375 Cost of merchandise sold Gross profit Determine the missing amount 123,895 1:50 11

Explanation / Answer

by the help of this formula Sales - Cost of mechandise sold = Gross profit

In case of any clarification required please comment.

Particulars Case 1 Case 2 Case 3 Case 4 Sales 426500 419220 1245000 562270 Cost of merchandise sold 342670 334950 775000 438375 Gross profit 83830 84270 470000 123895

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