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Create a Statement of Cost of Goods Purchased, Cost of Goods Sold and Income Statement for 2019, using the following information. Warehouse costs for finished
Create a Statement of Cost of Goods Purchased, Cost of Goods Sold and Income Statement for 2019, using the following information. Warehouse costs for finished goods 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) 6,000 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 41,000 Purchase discounts 16,000 Purchases 829,000 Revenue 950,000 Shipping merchandise to us that we paid 3,000 Shipping merchandise to customers 6,000 Warehouse costs 13,000 not included in any other number
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