Data Table Inventory, December 1..............$ 57,800 Transactions December 1-15: Purchases ... 490,300 Purchases discounts ...... 18,000 Purchase returns ...... 70,400 Sales ................ 665,000 Print Done Requirement 2. Prepare the income statement for December 1 to December 15 for this product through gross profit. Show the detailed computations of cost of goods sold in a separate schedule. Begin by showing the detailed computations of cost of goods sold. Add: Less: Less: Cost of goods sold Now prepare the December income statement for this product through gross profit. Thompson Company Income Statement (partial) Period Ending December 15 (date of the Fire) Gross profit Requirement 1. Estimate the cost of the lost inventory using the gross profit method. Add: Less: Net purchases Estimated cost of goods sold: Less: Estimated cost of goods sold Estimated cost of ending inventory lost Data Table Inventory, December 1..............$ 57,800 Transactions December 1-15: Purchases ... 490,300 Purchases discounts ...... 18,000 Purchase returns ...... 70,400 Sales ................ 665,000 Print Done Requirement 2. Prepare the income statement for December 1 to December 15 for this product through gross profit. Show the detailed computations of cost of goods sold in a separate schedule. Begin by showing the detailed computations of cost of goods sold. Add: Less: Less: Cost of goods sold Now prepare the December income statement for this product through gross profit. Thompson Company Income Statement (partial) Period Ending December 15 (date of the Fire) Gross profit Requirement 1. Estimate the cost of the lost inventory using the gross profit method. Add: Less: Net purchases Estimated cost of goods sold: Less: Estimated cost of goods sold Estimated cost of ending inventory lost