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7ce REQUIRED: Compute the missing dollar amounts for the 2021 Statement of Earnings of Kwan Company for each of the following independent cases: Case ACase
7ce REQUIRED: Compute the missing dollar amounts for the 2021 Statement of Earnings of Kwan Company for each of the following independent cases: Case ACase BCase C Sales revenue8,0006,000 Sales returns & allowances150 275 Net Sales Revenue 5,920 Beginning inventory11,0006,5004,000 Purchases5,000 9,420 Transport-In 120170 Purchase returns350600 Cost of Goods Available for Sale 14,79013,370 Ending inventory10,00010,740 Cost of Goods Sold 5,400 Gross profit 1,450 Expenses (operating)1,300 520 Net Income (Loss)800-500$ Zero
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