The following is given for Kendall's Jewelry Wholesalers for the year ended December 31, 20 Upper X 8 ($ in thousands)?

Requirement?

Prepare a detailed gross profit section for Kendall's Jewelry Wholesalers for the year ended December 31, 20 Upper X 8 ($ in thousands), computing the amount for Gross Sales

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i Data Table Cash discounts on purchases Sales returns and allowances Gross purchases Merchandise inventory, December 31, 20X7 Gross profit $ 12 21 520 105 643 Cash discounts on sales Purchase returns and allowances Freight in Merchandise inventory, December 31, 20X8 I X 28 15 30 240 Schedule of Gross Profit For the Year Ended December 31, 20X8 Deduct: Net sales Deduct: Cost of goods sold Deduct: Net purchases Add: 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 ($ in thousands) \/