Homework: Week 8 homework (2 marks) HW Score: 0%, 0 of 3 pts Score: 0 of 1 pt 3 of 3 (0 complete Exercise 6-13 Best Foods Groceryported the folosing comparative Income water for the years ended 30 April 2015 and 2014: During 2015, Base Foods discovered that ending 2014 inventory was overstated by $1500 Requirements 0 Comparative Income statement Requirement 1. Prepare the corected comparative Incontre byer period, complete the heading for the statement 2015 2014 74000 Sleeve Costes Beginning ph Cost of goods Basic Foods Grocery Income statements for the years ended 30 April 2015 and 2014 2015 2014 Se revenue $ 134000 $ 120 000 Cost of sales Beginning inventory $ 15000 $ 10500 Net purchases 78000 Cost of goods available $ 91 000 $84500 Ending inventory (20 000) 115 000) Cost of sales 71 000 69 500 profit $ 3 000 $ 50 000 Overhead expenses 26000 24000 Net Prote $ 37000 5 26 500 Choose from any store auber in the input fields and then chok Check Answer part orang Clear All Print Done MacBook Pro 31 D Zi 3 16 2 19 3 G 5 6 & 7 8 ( 9 + 0 W E R T delete Y U 1 0 { Exercise 6-13 Comparative income sement Basic Foods Grocery reported the following comparative income statement for the years ended 30 April 2015 and 2014 Click the icon to view the comparative Income statement) During 2015, Bast Foods discovered that ending 2014 inventory was overstated by $1500 Berements Basie Foods Grocery Income statements for the years ended 30 April 2015 and 2014 Requirement 1. Prepare the corrected comparative income statement for the two-year period, complete with a heading for the statement 2014 2015 $ 14000 S 120 000 2015 2014 $ 15000 78000 S 10 500 74 000 Sales revenue Cost of sales Beginning inventory Net purchases Cost of goods available Ending inventory Cost of sales Gross proft Overhead expenses Net Profit S 91000 (20 000) Salve Cost of sales Beginning inventory Nel purchases Cost of goods available Ending inventory $ 84 500 (15000) 71 000 69 500 S63000 26000 5 37 000 $50 500 24 000 $26 500 Choose from any ist or enter any number in the input fields and then click Check Answer Print 1 part remaining Done Clear All
