Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Case A $ Case B 7,540 $ 11,030 $ 6,510 4,990 Goods available for sale Ending inventory 10,200 15,210 10,880 Case C $ 6,010 $ 3,920 9,410 13,330 Cost of goods sold 4,300 Gross profit 1,490 Expenses 260 610 Pretax income (loss) $ 1,460 $ (600) $ 1,100

Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up.) Net sales revenue Beginning inventory Purchases Case A $ Case B 7,540 $ 11,030 $ 6,510 4,990 Goods available for sale Ending inventory 10,200 15,210 10,880 Case C $ 6,010 $ 3,920 9,410 13,330 Cost of goods sold 4,300 Gross profit 1,490 Expenses 260 610 Pretax income (loss) $ 1,460 $ (600) $ 1,100

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1CE: LO1 If the ending inventory is overstated by 10,000, indicate what, if anything, is incorrect about...

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