testout 91513 Determining Amounts for Items Omitted from Inc

ssignment/takeAssignment Main do?invoker-assignments&tak; or-assignment-take&inprogress; false eBook Show Me How Calculator Determining Amounts for Items Omitted from Income Statement An item has been omitted in each of the following four lists of income statement data $426,500 (a) 83,830 334,950 84,270 $1,245,000 775,000 (c) 438,375 Cost of merchandise sold Gross profit Determine the missing amount 123,895 1:50 11

Solution

by the help of this formula Sales - Cost of mechandise sold = Gross profit

In case of any clarification required please comment.

Particulars	Case 1	Case 2	Case 3	Case 4
Sales	426500	419220	1245000	562270
Cost of merchandise sold	342670	334950	775000	438375
Gross profit	83830	84270	470000	123895