Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit Explain "COST OF GOODS SOLD" in Income Statement? (20 Marks) Sales Revenue 400,000 50,000 25,000 120,000 Sales returns and allowances Sales discount Cost of Goods sold Required: Fill in the blanks below IMPORTANT: Type the numbers without commas, nor spaces or brackets (for example type 30000 instead of 30,000, or -40000 instead of -40,000) Net Sales Gross Profit