Question
Alpha Company provided the following data concerning its income statement: sales, $985,000; purchases, $353,000; beginning inventory, $215,000; ending inventory, $282,000; operating expenses, $114,000; freight-in, $5,000;
Alpha Company provided the following data concerning its income statement: sales, $985,000; purchases, $353,000; beginning inventory, $215,000; ending inventory, $282,000; operating expenses, $114,000; freight-in, $5,000; sales discounts, $19,000; purchases discounts, $15,000; sales returns & allowances, $122,000; and purchases returns & allowances, $32,000.How much is net income?
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Managerial Accounting
Authors: Sivaramakrishna, Ramji Balakrishnan
1st Edition
0471467855, 978-0471467854
