Cherokee Inc. is a merchandiser that provided the following Information: Amount 14,000 18 Number of...
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Cherokee Inc. is a merchandiser that provided the following Information: Amount 14,000 18 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases $ 19,000 $ 14,000 $ 10,000 $ 23,000 $ 88,000 $ Cherokee, Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 252.000 75,000 121.000 Net operating income
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