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Given the following and Using the Gross Profit Method, fill in the missing numbers. Show all calculations Full Year, Last Yr. 1st 6 Mos, this
Given the following and Using the Gross Profit Method, fill in the missing numbers. Show all calculations | |||||||||
Full Year, Last Yr. | 1st 6 Mos, this yr. | ||||||||
Sales Revenue | 1,352,500 | 824,100 | |||||||
Cost of G.S.- | |||||||||
Beg. Invent. | 172,411 | ||||||||
Purchases | 872,400 | 725,000 | |||||||
Cost of Invent. Avail for Sale | 1,044,811 | ||||||||
Less cost of ending invent. | 244,801 | ||||||||
Cost of Goods Sold | 800,010 | ||||||||
Gross Margin | 552,490 | ||||||||
Oper. Expenses | 463,111 | 275,000 | |||||||
Oper. Income/Loss | 89,379 |
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