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Cherokee Inc. is a merchandiser that provided the following information: number or units sold 11,000 selling price per unit $18 Variable selling expense per unit
Cherokee Inc. is a merchandiser that provided the following information:
number or units sold 11,000
selling price per unit $18
Variable selling expense per unit $1
Variable administrative expense per unit $2
total fixed selling expense $20,000
total fixed administrative expense $16,000
Beginning merchandise inventory $10,000
ending merchandise inventory $23,000
merchandise purchases $86,0000
1- please help with preparing a traditional income statement
2-please help with preparing a contribution format income statement
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