Question
Miami Company Orlando Company Sales $200,000 (D) Cost of Goods Sold Beginning Inventory (A) 60,000 Purchases and Freight-In 118,000 (E) Cost of goods available for
|
| Miami Company | Orlando Company |
| Sales | $200,000 | (D) |
| Cost of Goods Sold |
|
|
| Beginning Inventory | (A) | 60,000 |
| Purchases and Freight-In | 118,000 | (E) |
| Cost of goods available for sale | (B) | 180,000 |
| Ending Inventory | 4,000 | 4,000 |
| Cost of goods sold | 120,000 | (F) |
| Gross Margin | 80,000 | 224,000 |
| Selling and Administrative Expenses | (C) | 170,000 |
| Operating Income | 24,000 | (G) |
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Financial Accounting
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
12th edition
134725980, 9780134726656 , 978-0134725987
