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need help please and thank you Salaries expense $290,000 Sales revenue Sales returns 20,000 Utilities expense Interest income 10,000 Cost of goods sold Interest expense
need help please and thank you
Salaries expense $290,000 Sales revenue Sales returns 20,000 Utilities expense Interest income 10,000 Cost of goods sold Interest expense 6,000 Rent Expense Income tax expense 20,000 Inventory (begin) Inventory (end) Determine: 1. Gross profit $ 2. Pretax income (IBT) $ 3. Purchases $ 4. Gross profit ratio (two decimal places) % $820,000 7,500 425,000 12,000 41,000 33,000 Use the following for 5 Units 15 50 Beginning inventory Purchase 1 Purchase 2 The company sold 95 units Cost per unit $55.00 $56.00 $59.00 35 5. Determine ending inventory using FIFO: $Step by Step Solution
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