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(Accounting) Only answer if you know how to do this correctly. Correct answers will get Cooke Electric uses the periodic inventory system. Cooke reported the
(Accounting) Only answer if you know how to do this correctly. Correct answers will get
Cooke Electric uses the periodic inventory system. Cooke reported the following selected amounts at May 31, 2018: (Click on the icon to review the data.) Compute the following for Cooke: Cost of goods sold. b. Gross profit. a. a. Compute the cost of goods sold. Cost of Goods Sold: Less: Plus: Less: Cost of Goods Sold c. Determine the company's gross profit. The gross profit for the year ended May 31, 2018 is $ Data Table $ 17,000 Freight In $ 4,000 Merchandise Inventory, June 1, 2017 Merchandise Inventory, May 31, 2018 Net Sales Revenue 175,000 22,000 82,000 Purchases Cooke, Capital 48,000 6,500 Purchase Discounts Purchase Returns and Allowances 5,000Step by Step Solution
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