In each case, use the following information to calculate the missing information: kio85 Gross sales Case 1

In each case, use the following information to calculate the missing information:  kio85

Transcribed Image Text:

Gross sales Case 1 $640,000 Case 2 Case 3 $ ? 69 ? Sales discounts ? 25.600 19,200 Sales returns and allowances 19,200 44,800 32,000 Net sales 608,000 1,209,600 ? Merchandise inventory, January 1 256,000 ? 384,000 Purchases 384,000 768,000 ? Purchase discounts 7,680 13,440 12,800 Purchase returns and allowances Net purchases Transportation-in Net cost of purchases Cost of goods available for sale Merchandise inventory, December 31 Cost of goods sold Gross margin 24,320 31,360 32,000 352,000 672,000 25,600 38,400 32,000 377,600 761,600 ? ? 24 1,081,600 1,088,000 ? 320,000 384,000 448,000 ? 640,000 ? 512,000 320,000