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Jan. 31 $17,850 17,255 Inventory at cost Inventory at LCNRV Purchases for the month Sales for the month Feb. 28 $17.969 14,994 20,230 34,510 Mar.
Jan. 31 $17,850 17,255 Inventory at cost Inventory at LCNRV Purchases for the month Sales for the month Feb. 28 $17.969 14,994 20,230 34,510 Mar. 31 $20,230 18,564 28,560 41,650 Apr. 30 $16,660 15,827 31,535 47,600 From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) February April March
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