Question
ABC Company XYZ Company Sales $ 200,000 (D) Cost of Goods Sold Beginning Inventory (A) 60,000 Purchases and Freight-In 118,000 (E) Cost of goods available
ABC Company XYZ Company
Sales $ 200,000 (D)
Cost of Goods Sold
Beginning Inventory (A) 60,000
Purchases and Freight-In 118,000 (E)
Cost of goods available for sale (B) 180,000
Ending inventory 4,000 4,000
Cost of goods sold 120,000 (F)
Gross Margin 80,000 224,000
Selling and Administrative Expenses (C) 170,000
Operating Income 24,000 (G)
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Acca Financial Reporting Practice And Revision Kit
Authors: BPP Learning Media
1st Edition
1509738053, 978-1509738052
