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please help fill in these boxes!! This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of
please help fill in these boxes!!
This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. (Input all amounts as positive values except net loss which should be indicated with a minus sign. Omit the "$" sign in your response.) Beginning Inventory 76,000 Net Purchases 104,000 Net Sales 330,000 Ending Inventory 35,200 Cost of Goods Sold Profit or (Loss) Gross Profit 185,200 Expenses 72,000 a. b. 570,000 280,000 20,000 76,000 210,000 264,000 441,000 C. 630,000 160,000 189,000 160,000 d. 820,000 450,000 135,000 234,000 270,000 e. 156,000 300,000 350,000 140,000 (15,000)Step by Step Solution
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