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eBook Cost of Merchandise Sold and Related Items The following data were extracted from...

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Accounting

eBook
Cost of Merchandise Sold and Related Items
The following data were extracted from the accounting records of Harkins Company for the year ended April 30,20V :
Merchandise inventory, May 1,20 Y 6
Merchandise inventory, April 30,20 Y7
Purchases
Purchases returns and allowances
Purchases discounts
Sales
$382,100
477,600
3,104,500
95,500
57,300
4,776,200
14,300
Freight in
a. Prepare the cost of merchandise sold section of the income statement for the year ended April 30,20Y7,, using the periodic inventorv
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