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The following information is for Ayayai Enterprises Ltd.: (a) Using the above information, prepare monthly income statements (as far as the data permit) in columnar
The following information is for Ayayai Enterprises Ltd.: (a) Using the above information, prepare monthly income statements (as far as the data permit) in columnar form for February, March, and April. Show the inventory in the statement at cost; show the gain or loss due to fluctuations in NRV separately. Ayayai uses the indirect or allowance method. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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