Purpose a combined cost of goods sold and income statement

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Reference no: EM133130

Question :

The Gargantuan Company has the subsequent transactions during December. Purpose a combined cost of goods sold and Income Statement showing all these transactions and check the value of inventory to be added in the Balance Sheet at the end of December.

Inventory 1 December 120,000

Rental 30,000

Salaries & Wages 45,000

Sales 435,000

Depreciation 12,000

Inventory 31 December 150,000

Marketing expenses 15,000

Gross profit 165,000

Reference no: EM133130

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