Exercises inesscourse.com/platform/mod/quiz/attempt.php?attempt-2223990&page=2 = Menu Purchases discounts 16,000 4,000 20,000 Transportation in 18,000 14,000 32,000 Cost of goods available for sale 312,000 120,000 432,000 X Inventory, December 31, 2016 50,00 30,000 80,000 Cost of goods sold 468,000 360,000 828,000 Gross Profit 312,000 1 20,000 432,000 Traceable department expenses 1 08,000 56,000 164,000 Contribution to common expenses 74,286 45,714 120,000 X Common expenses 120,000 Income before tax 148,000 Income tax expense 51,800 Net income 96,200 o e 8 6 O