Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending inventory Expenses Net purchases Net sales...
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Kleiner Merchandising Company Accumulated depreciation $ Beginning inventory Ending inventory Expenses Net purchases Net sales 700 13,500 8,100 2,300 17,500 26,500 Krug Service Company Expenses Revenues Cash Prepaid rent Accounts payable Equipment $ 10,500 31,000 850 600 200 2,800 Required: a. Compute the goods available for sale, and the cost of goods sold and gross profit for the merchandiser. Hint: Not all information may be necessary. b. Compute net income for each company. Goods available for sale Cost of goods sold Gross profit Net income for Krug Service Company Net income for Kleiner Merchandising Company
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