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Cherokee Incorporated is a merchandiser that provided the following information: Amount Number of units sold 1 3 , 0 0 0 Selling price per unit
Cherokee Incorporated is a merchandiser that provided the following information:
Amount
Number of units sold
Selling price per unit $
Variable selling expense per unit $
Variable administrative expense per unit $
Total fixed selling expense $
Total fixed administrative expense $
Beginning merchandise inventory $
Ending merchandise inventory $
Merchandise purchases $
Required:
Prepare a traditional income statement.
Prepare a contribution format income statement.
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