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Presented below is information related to Coronado Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $16,800 $16,912 $19,040 $15,680 Inventory at

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Presented below is information related to Coronado Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $16,800 $16,912 $19,040 $15,680 Inventory at LCNRV 16,240 14,112 17,472 14,896 Purchases for the month 19,040 26,880 29,680 Sales for the month 32,480 39,200 44,800 (a) Your answer is partially correct. From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory 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).)

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