Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated sign.) a b C d e Sales $ 71,000 $ 44,200 $ 42,000 $ 25,500 K 4,540 6,900 Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 7,900 16,600 7,000 7,000 60,000 4,400 27,000 (34,840) (3,000) (8,100) (6,300) 33,060 18,000 27,700 : 37,940 26,200 3,400 49,400 25,000 10,650 10,350 3,600 12,940 $ 15,550 $ (6,950) $ 45,800 6,900 ces 7,800 Fill in the blanks in the following separate income statements a through e. (Amounts to be deducted should be indicated sign.) a b C d e Sales $ 71,000 $ 44,200 $ 42,000 $ 25,500 K 4,540 6,900 Cost of goods sold Merchandise inventory (beginning) Total cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit Expenses Net income (loss) 7,900 16,600 7,000 7,000 60,000 4,400 27,000 (34,840) (3,000) (8,100) (6,300) 33,060 18,000 27,700 : 37,940 26,200 3,400 49,400 25,000 10,650 10,350 3,600 12,940 $ 15,550 $ (6,950) $ 45,800 6,900 ces 7,800 4 Martinez Company's ending inventory includes the following items. 1.2 points Product Helmets Bats Shoes Uniforms Units Cost per Unit Market per Unit 30 $ 58 $ 62 23 112 80 44 103 99 48 44 44 Skipped Compute the lower of cost or market for ending inventory applied separately to each product. eBook Hint Per Unit Total Print Inventory Items Units Cost Market Cost Market LCM Applied to Items References 30 $ 58 $ 62 Helmets Bats 23 112 80 Shoes 44 103 99 Uniforms 48 44 44 $ 0 $ 0 Mc Graw Hill Education