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Determining Amounts for Items Omitted from Income Statement An item has been omitted in each of the following four lists of income statement data. Determine
Determining Amounts for Items Omitted from Income Statement
An item has been omitted in each of the following four lists of income statement data. Determine the missing amount.
Chase Company | Jessup Inc. | Osterman Company | Snyder Co. | ||
---|---|---|---|---|---|
The total amount charged to customers for goods sold, including cash sales and sales on account.Sales | $443,000 | $ | $1,081,000 | $ | |
The cost that is reported as an expense when goods is sold.Cost of goods sold | $ | $423,900 | $ | $417,600 | |
Net sales minus the cost of goods sold.Gross profit | $83,800 | $290,100 | $382,300 | $291,200 |
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