Refer to Exercise 2-21. Last calendar year, DeSoto recognized revenue of $1,320,000 and had selling and administrative
Question:
Refer to Exercise 2-21. Last calendar year, DeSoto recognized revenue of $1,320,000 and had selling and administrative expenses of $204,600.
Required:
1. What is the cost of goods sold for last year?
2. Prepare an income statement for DeSoto for last year.
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Related Book For 
Introduction To Cost Accounting
ISBN: 9780538749633
1st International Edition
Authors: Don R. Hansen, Maryanne Mowen, Liming Guan, Mowen/Hansen
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