Question
Soundview Centre uses a periodic inventory system. At the end of 2015, the accounting records include the following information: Inventory dec 31 2014 = 23100
Soundview Centre uses a periodic inventory system. At the end of 2015, the accounting records include the following information:
Inventory dec 31 2014 = 23100
inventory dec 31 2015 = 15900
net sales= 318000
purchases= 183000
Compute the following for 2015:
Cost of goods sold=
Gross profit=
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short
8th edition
78025559, 978-0078025556
