$6,694$; and floor lamps, $7,500.($Enter the oldest inventory layers first.$)$ Nov. $18$ Sold lamps on account to Capital Discount Stores, terms $1/10,$ n$/30$:

$2,500$ table lamps at $$40$ each Does the sum of the ending balances in the inventory records match the balance in Merchandise Inventory

in the general ledger? If not, review the transactions to find your error.

Prepare Dane Lamp Company's multi$-$step income statement and statement of owner's equity for the year

ended December $31,2025,$ and a classified balance sheet as of December $31,2025.$

Calculate the following ratios for DLC as of December $31,2025$: gross profit percentage,

inventory turnover, and days' sales in inventory.

Record and post the closing entries.

Prepare a post$-$closing trial balance.Merchandise Inventory

Merchandise Inventory as of September $30$ consists of the following lamps: