The following is given for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands): (Click the icon to view the data.) Requirement 1. Prepare a detailed gross profit section for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands), computing the amount for Gross Sales Kingston's Jewlery Wholesalers Schedule of Gross Profit For the Year Ended December 31, 20X8 ($ in thousands) Deduct: Net sales Deduct: Cost of goods sold Deduct: W 11 Net purchases Add: Total cost of merchandise acquired Cost of goods available for sale Requirement 1. Prepare a detailed gross profit section for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands), computing the amo Gross Sales Deduct: Net sales Deduct: Cost of goods sold Deduct: Net purchases Add: Total cost of merchandise acquired Cost of goods available for sale Deduct: Cost of goods sold Gross profit The following is given for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands): (Click the icon to view the data.) Requirement 1. Prepare a detailed gross profit section for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands), computing the amount for Gross Sales Kingston's Jewlery Wholesalers Schedule of Gross Profit For the Year Ended December 31, 20X8 ($ in thousands) Deduct: Net sales Deduct: Cost of goods sold Deduct: W 11 Net purchases Add: Total cost of merchandise acquired Cost of goods available for sale Requirement 1. Prepare a detailed gross profit section for Kingston's Jewelry Wholesalers for the year ended December 31, 20X8 ($ in thousands), computing the amo Gross Sales Deduct: Net sales Deduct: Cost of goods sold Deduct: Net purchases Add: Total cost of merchandise acquired Cost of goods available for sale Deduct: Cost of goods sold Gross profit