This exercise stresses the relationships between the information recorded in a periodic inventory system and...
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Accounting
This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts (Enter loss amounts as a negative number.) Net Sales Cost of Goods Sold Ending Inventory 35,200 Expenses Beginning Inventory 76,000 73,000 190,000 Net Purchases 104,000 270,000 Net Income or (Loss) Gross Profit 165.200 72,000 b 310,000 570,000 630,000 810,000 20,000 264000 441,000 c d 180,000 135,000 180.000 450,000 189.000 234.000 140,000 140,000 260,000 e 156,000 300,000 (15,000)
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