Computing inventory and cost of goods sold amounts Consider the following incomplete table of merchandiser’s profit data:
|
|
Sales |
Net |
Cost of |
Gross |
|
Sales |
Discounts |
Sales |
Goods Sold |
Profit |
|
$89,500 |
$ 1,560 |
$87,940 |
$ 60,200 |
(a) |
|
103,600 |
(b) |
99,220 |
(c) |
$34,020 |
|
66,200 |
2,000 |
(d) |
40,500 |
(e) |
|
(f) |
2,980 |
(g) |
75,800 |
36,720 |
Requirement
1. Calculate the missing table values to complete the table.