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The Brick Company had cash sales of $222,200 for Year 1, its first year of operation. On April 2, the company purchased 221 units of
The Brick Company had cash sales of $222,200 for Year 1, its first year of operation. On April 2, the company purchased 221 units of inventory at $195 per unit. On September 1, an additional 166 units were purchased for $215 per unit. The company had 63 units on hand at the end of the year. The companys income tax rate is 40 percent. All transactions are cash transactions
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