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Use the following to answer questions 30 35

Find the missing amounts:

	Case 1	Case 2	Case 3
Net Sales	$992,000	$758,300	?
COGS	?	444,300	365,000
Gross profit	369,200	?	298,000
Operating expense	295,200	176,500	?
Operating income	?	?	88,700

30. $____________For case 1, determine cost of goods sold

31. $____________For case 1, determine operating income (include - if needed)

32. $____________For case 2, determine gross profit

33. $____________For case 2, determine operating income (include - if needed)

34. $____________For case 3, determine net sales

35. $____________For case 3, determine operating expense

36. Inventory records for DAD Incorporated revealed the following:

Date	Transaction	Number of Units	Unit Cost
Apr. 1	Beginning inventory	50	$123.00
Apr. 4	Purchase	450	$130.00

DAD sold 490 units of inventory during the month. Ending inventory assuming LIFO would be $____________

37. Inventory records for MOM Company revealed the following:

Date	Transaction	Number of Units	Unit Cost
Mar. 1	Beginning inventory	400	$70.00
Mar. 6	Purchase	1,000	$70.20
Mar. 16	Purchase	1,000	$71.00
Mar. 23	Purchase	1,000	$71.10

MOM sold 3,300 units of inventory during the month. Ending inventory assuming FIFO would be $______________

38. Inventory records for STC Company revealed the following:

Date	Transaction	Number of Units	Unit Cost
Mar. 1	Beginning inventory	50	$25.00
Mar. 3	Purchase	800	$25.25
Mar. 23	Purchase	150	$26.00

STC sold 975 units of inventory during the month. Ending inventory assuming Weighted Average would be $___________

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