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Prepare the income statement for merchandising Co

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Question - Prepare the income statement for merchandising Co. for the year ended Dec. 31, 2019 using the following data (value in SR):

Sales 400,000 - beginning inventory 40,000 - purchases 210,000 -- operating expenses 60,000.

The cost of ending (closing) inventory is 50,000 while the market value (NRV) is 35,000.

Reference no: EM132656708

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