1

1. Sales Revenue	$800
   Beginning Inventory	$100
   Purchases	$700
   Available for Sale	?
   Ending Inventory	$500
   Cost of Goods Sold	?
   Gross Profit	?
   Operating Expenses	$200
   Net Income	?

   The missing dollar amounts are:

   Goods Available forSale $800

   Cost of Goods Sold $300

   Gross Profit $500

   Net income - $300

   Goods Available forSale $900

   Cost of Goods Sold $300

   Gross Profit $500

   Net income - $400

   Goods Available forSale $800

   Cost of Goods Sold $600

   Gross Profit $200

   Net income - $50

   Goods Available forSale $800

   Cost of Goods Sold $300

   Gross Profit $400

   Net income - $400

0 points

QUESTION 2

1. Sales Revenue	$900
   Beginning Inventory	$200
   Purchases	$700
   Available for Sale	?
   Ending Inventory	?
   Cost of Goods Sold	?
   Gross Profit	?
   Operating Expenses	$150
   Net Income	$0

   The missing dollar amounts are:

   Goods Available forSale $300

   Ending Inventory $150

   Cost of Goods Sold $600

   Gross Profit $300

   Goods Available forSale $900

   Ending Inventory $150

   Cost of Goods Sold $750

   Gross Profit $150

   Goods Available forSale $300

   Ending Inventory $150

   Cost of Goods Sold $750

   Gross Profit $100

   Goods Available forSale $300

   Ending Inventory $100

   Cost of Goods Sold $800

   Gross Profit $200

0 points

QUESTION 3

1. Sales Revenue	?
   Beginning Inventory	$150
   Purchases	?
   Available for Sale	?
   Ending Inventory	$250
   Cost of Goods Sold	$200
   Gross Profit	$400
   Operating Expenses	$100
   Net Income	?

   The missing dollar amounts are:

   Sales Revenue - $600

   Purchases - $250

   Goods Available forSale $500

   Net income - $300

   Sales Revenue - $800

   Purchases - $300

   Goods Available forSale $450

   Net income - $500

   Sales Revenue - $600

   Purchases - $300

   Goods Available forSale $450

   Net income - $300

   Sales Revenue - $600

   Purchases - $200

   Goods Available forSale $350

   Net income - $300

0 points

QUESTION 4

1. Sales Revenue	$800
   Beginning Inventory	?
   Purchases	$600
   Available for Sale	?
   Ending Inventory	$250
   Cost of Goods Sold	?
   Gross Profit	?
   Operating Expenses	$250
   Net Income	$100

   The missing dollar amounts are:

   Beginning Inventory - $100

   Goods Available forSale $600

   Cost of Goods Sold $350

   Gross Profit $350

   Beginning Inventory - $300

   Goods Available forSale $500

   Cost of Goods Sold $550

   Gross Profit $450

   Beginning Inventory - $200

   Goods Available forSale $800

   Cost of Goods Sold $450

   Gross Profit $350

   Beginning Inventory - $100

   Goods Available forSale $700

   Cost of Goods Sold $450

   Gross Profit $350