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The following 1st two closing entries for Fox Fixtures were made on March 31, 2019, the end of thr annual accounting period. out of 9.00
The following 1st two closing entries for Fox Fixtures were made on March 31, 2019, the end of thr annual accounting period.
out of 9.00 g question March 31 Interest Revenue 1,200 Merchandise Inventory 11,000 445,000 Sales 22.000 Purchase Returns Purchase Discounts Income Summary 11,000 490,600 March 31 453,300 Income Summary Merchandise Inventory 15,000 Sales Return 25,000 16,000 Sales Discount Purchases 286,000 Freight-in 8,800 69,000 Selling Expenses General Administration Expenses 33,500 Use the information in the closing entries to calculate the following amounts: 1. Calculate Net Sales for Fox Fixtures: 2. Calculate Cost of Goods Purchased for Fox Fixtures: 3. Calculate Cost of Goods Sold for Fox Fixtures Step by Step Solution
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