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2 (10 points) For each of the 3 separate scenarios (A, B, and C) fill in the missing items: A B C Sales $50,000 $72,000
2 (10 points) For each of the 3 separate scenarios (A, B, and C) fill in the missing items:
| A | B | C |
Sales | $50,000 | $72,000 | $ ? |
Cost of Goods Sold: |
|
|
|
Beginning Inventory | 20,000 | 31,000 | 26,000 |
+Inventory Purchases | 42,000 | ? | 73,000 |
= Cost of Goods Available for Sale | ? | ? | 99,000 |
-Ending Inventory | ( ? ) | (18,000) | ( ? ) |
=Cost of Goods Sold | 30,000 | 46,000 | 67,000 |
Gross Profit | ? | ? | 33,000 |
-Expenses | 17,000 | 17,500 | ? |
Net Income | ? | 8,500 | 16,000 |
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