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P5-3(Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting Percentage LO5-3 The Max,...

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Accounting

P5-3(Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting Percentage LO5-3
The Max, Incorporated, is a leading fashion retailer that offers customers an extensive selection of high-quality fashion brands focused on apparel, shoes, cosmetics, and accessories for women, men, young adults and children. The items reported on its income statement for an earlier year (ended February 1) are presented here (dollars in millions) in simplified form in alphabetical order:
\table[[Cost of goods sold,$10,676
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