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Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Case A Case B Case C
Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Case A Case B Case C Sales Revenues, gross $ 8,600 $ 6,480 Sales Returns and Allowances 210 Net Sales Cost of Goods Sold Gross Profit 305 6,040 6,050 4,290 5,460 1,510 During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $3,800 from Diamond Incorporated with terms 3/12, n/45. June 5 Returned goods costing $1,200 to Diamond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $200 with terms 2.5/12, n/45. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid Club Corporation in full. Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Cost of Inventory
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