Reference no: EM132744933
Preparing the Cost of Sales section of Income Statement.
Merchandise Inventory, 6/30/2020 --------------- P 310,000
Merchandise Inventory, 7/1/2019 ------------------ 260,000
Purchases --------------------------------------------- 830,000
Purchases Returns and Allowances ---------------- 8,300
Purchases Discounts---------------------------------- 16,600
Transportation In --------------------------------------- 12,450
Required:
Problem 1: Prepare the cost of goods sold section of the income statement of Marah Valimento Housewares for the year ended June 30, 2020.
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Find and prepare the cost of goods sold section
: Find and Prepare the cost of goods sold section of the income statement of Marah Valimento Housewares for the year ended June 30, 2020.
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