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STU Corp. Summary Beginning Inventory $45,000 Net Purchases $155,000 Ending Inventory $55,000 Sales Revenue $250,000 Operating Expenses $40,000 Tasks: Determine the Cost of Goods Sold.
STU Corp. Summary
Beginning Inventory | $45,000 |
Net Purchases | $155,000 |
Ending Inventory | $55,000 |
Sales Revenue | $250,000 |
Operating Expenses | $40,000 |
Tasks:
- Determine the Cost of Goods Sold.
- Prepare an income statement.
- Compute gross profit and gross profit margin.
- Compute the operating profit margin.
- Analyze the effect of inventory shrinkage on financial performance.
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
