Fill in the appropriate blanks for each of the independent situations below. Company A Company B...

Fill in the appropriate blanks for each of the independent situations below.

Company A Company B Company C

Sales revenue (a) $_______ $343,400 $540,000

Beginning inventory 52,600 (d) _______ 90,000

Net purchases 205,300 255,600 (g) _______

Ending inventory 52,200 108,000 63,000

Cost of goods sold (b) ______ (e) _______ 437,000

Gross profit 75,300 128,000 (h) _______

Operating expenses (c) ____ 50,000 48,000

Income before taxes 6,000 (f) _______ (i) _______

(Show me all the calculations please)

Expert Solution

	Company A	Company B	Company C
Sales revenue	281,000	343,400	540,000
Beginning Inventory	52,600	67,800	90,000
Net Purchases	205,300	255,600	410,000
Ending Inventory	52,200	108,000	63,000
Cost of Goods sold	205,700	215,400	437,000
Gross Profit	75,300	128,000	103,000
Operating Expenses	69,300	50,000	48,000
Income before taxes	6,000	78,000	55,000

Sales - Cost of goods sold = Gross Profit
Beginning Inventory + Purchases - Ending Inventory = Cost of goods sold
Income before taxes = Gross Profit - Operating Expenses

ekkarill92 answered 1 year ago

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