Question
Sharon Company reported the following information for the month ended in October 2016. Sales - 200,000 Sales Discount - 28,350 Sales return - 10,259 Beginning
Sharon Company reported the following information for the month ended in October 2016.
Sales - 200,000
Sales Discount - 28,350
Sales return - 10,259
Beginning inventory - 10,356
Purchases - 15,678
Freight in - 2,000
Ending inventory - 7,890
Gross profit - ?
Administrative expenses - 28000
Selling expense - 30,000
How much is the Cost of Goods available for sale?
How much is the operating expenses?
How much is the gross sales?
How much is the gross profit?
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Accounting, Chapters 1-13
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th Edition
1285069625, 9781285069623
