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Check my work Check My Work button is now enabledItem 3 Item 3 1.81 points...

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Accounting

Check my work Check My Work button is now enabledItem 3 Item 3 1.81 points
Kleiner Merchandising Company
Accumulated depreciation $ 700
Beginning inventory 11,000
Ending Inventory 6,600
Expenses 2,050
Net Purchases 13,500
Net Sales 21,500
Krug Service Company
Expenses $ 9,700
Revenues 26,000
Cash 900
Prepaid rent 880
Accounts payable 200
Equipment 2,500
Required:
a. Compute the goods available for sale, and the cost of goods sold and gross profit for the merchandiser. Hint: Not all information may be necessary.
b. Use the above information from a service company and from a merchandiser to compute net income.

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