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need urgent i will rate and like for sure Q-3: Part a) Wonderland Opticians is a retail store selling spectacles and other optical products. The

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need urgent i will rate and like for sure

Q-3: Part a) Wonderland Opticians is a retail store selling spectacles and other optical products. The business follows the policy of selling all merchandise at higher prices and uses periodic inventory system. With the help of given information prepare the partial income statement showing computation of the gross profit of the year 2010. (5) Sales=$400,000 Inventory January 1=40,000 Purchases=250,000 Sales discount=7,000 Sales returns and allowances=3,000 A physical count indicates merchandise costing $34,000 is on hand at December 31

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