Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows.

Complete this question by entering your answers in the tabs below. Required 3 Inventory Required 1 Inventory Required 4 Inventory Required 2 Inventory Required 2 GJ Required 3 GJ Required 1 GJ Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $616,200. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory $ 616,200 Inventory cost Step 2) Allocation of the Gain (Loss) to the Partners. ME KENDRA COGLEY Total 135,800 Initial capital balances $ 77,600 174,600 $ 388,000 Allocation of gains (losses) Capital balances after gains (losses) Required 1 Inventory > Required 1 GJ Complete this question by entering your answers in the tabs below. Required 3 Inventory Required 1 Inventory Required 4 Inventory Required 2 Inventory Required 2 GJ Required 3 GJ Required 1 GJ Required 4 GJ Complete the schedule allocating the gain or loss on the sale of inventory is $616,200. Step 1) Determination of Gain (Loss) Proceeds from the sale of inventory $ 616,200 Inventory cost Step 2) Allocation of the Gain (Loss) to the Partners. ME KENDRA COGLEY Total 135,800 Initial capital balances $ 77,600 174,600 $ 388,000 Allocation of gains (losses) Capital balances after gains (losses) Required 1 Inventory > Required 1 GJ