Question
Create a Statement of Cost of Goods Purchased, Cost of Goods Sold and Income Statement for 2019, using the following information. Warehouse costs are
Create a Statement of Cost of Goods Purchased, Cost of Goods Sold and Income Statement for 2019, using the following information. Warehouse costs are for finished goods. They are considered a period cost, NOT a cost of goods purchased. Be sure to include the terms "Cost of Goods Available for Sale", "Gross Margin" (gross profit), "Net purchases" and "Operating Income". These numbers will each be worth 1 point. Be sure to label each line. Building depreciation (headquarters) 10,000 not included in any other number General, selling & admin. (G, S&A) 72,000 Merchandise inventory, 1/1/18 50,000 Merchandise inventory, 12/31/18 35,000 Purchase discounts 16,000 Purchases 829,000 Revenue 980,000 Shipping merchandise to us that we paid Shipping merchandise to customers Warehouse costs 3,000 6,000 13,000 not included in any other number
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