5) Relation between Inventory System and Income Statement (9 points) The following information is given...
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Accounting
5) Relation between Inventory System and Income Statement (9 points) The following information is given by the accounting department. Fill in the gaps (blanks) with the correct Dollar Amounts. Each line represents a new independent task. Beginning Inventory Purchases Ending Inventory Net Sales COGS Gross Profit Net Income Expenses or Loss a) $85,000 $168,000 $480,000 $200.000 $28,000 b) $420,000 $118.500 $810,000 $222,000 $165,000 c) $387,000 $144,000 $431.500 $97,000 $ (33,000)
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