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Presented below is information related to Carla Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost Inventory at LCNRV Purchases for the
Presented below is information related to Carla Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost Inventory at LCNRV Purchases for the month Sales for the month $17,700 17,110 $17818 14,868 20,060 34,220 20,060 18,408 28,320 41,300 $16,520 15,694 31,270 47,200 From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The nventory is to be shown in the statement at cost, the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) February March April
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