Using the following data taken from Hsu's import Inc. which uses a periodic inventory system...
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Using the following data taken from Hsu's import Inc. which uses a periodic inventory system , prepare the cost of goods sold section of the income statement for the year ended March 31.
Using the following data taken from Hsu's Imports Inc. which uses a period March 31. Inventory, April 1 Inventory, March 31 Purchases Purchases returns and allowances Purchases discounts Sales $193,250 180,100 1,079,600 51,200 18,500 1,860,000 19,250 Freight in Hsu's Imports Inc. Partial income Statement For the Year Ended March 31 Cost of goods sold: $ 1.860,000 X Hsu's Imports Inc. Partial Income Statement For the Year Ended March 31 Cost of goods sold: $1,860,000 X Cost of merchandise purchased: $ 180,100 193,250 1,079,600 Net purchases 51,200 Total cost of merchandise purchased $ 1,028,400 19,250 Cost of goods sold 799,200 0 more Chark Mr Work usar remaining
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