Three items are missing in each of the following columns and are identified by letter.$$840,00020,00015,000(d)300,000(e)303,000555,000(f)Sales(a)25,00010,000420,000(b)220,000170,000260,000(c)Sales returns and allowancesSales discountsNet salesBeginning inventoryCost of goods purchasedEnding inventoryCost of goods soldGross profitInstructions

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Description: Three items are missing in each of the following columns and are identified by letter.$$840,00020,00015,000(d)300,000(e)303,000555,000(f)Sales(a)25,00010,000420,000(b)220,000170,000260,000(c)Sales returns and allowancesSales discountsNet salesBeginn

a) Ans : 455000 Explanation Sales revenue = Net Sales + Sales discounts + sales returns and…

Business

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are missing in each of the following ind al Sales Sales returns and allowances Sales discounts Net sales $ (a) 25,000 10,000 420,000 (b) 220,000 170,000 260,000 Beginning inventory Cost of goods purchased Ending inventory Cost of goods sold profit

are missing in each of the following ind al Sales Sales returns and allowances Sales discounts Net sales $ (a) 25,000 10,000 420,000 (b) 220,000 170,000 260,000 Beginning inventory Cost of goods purchased Ending inventory Cost of goods sold profit

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Please provide the missing items: 1. Sales =? Sales return and allowances = 12,300 Net Sales =? Beginning Inventory =196,000 Net Purchases =415,200 Ending Inventory = 179,500 Cost of goods sold = 431,700 Gross Profit = 95,000 2. Sales = 714,000 Sales return and allowances = ? Net Sales =? Beginning Inventory = 78,000 Net Purchases =284,000 Ending Inventory = 128,500 Cost of goods sold = 233,500 Gross Profit = 464,000
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