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(Solved) (Latest ver. Aug 2020) - Missing Amounts

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Question:

Petson Company's financial information is presented below:

Sales ????
Sales Returns and Allowances $30,000
Net Sales $250,000
Beginning Merchandise Inventory ????
Purchases $170,000
Purchase Returns and Allowances $ 15,000
Ending Merchandise Inventory $ 35,000
Cost of Goods Sold $180,000
Gross Profit ????

The missing amounts above are
Sales Beginning Inventory Gross Profit
a. 280,000 45,000 70,000
b. 220,000 45,000 100,000
c. 280,000 60,000 70,000
d. 220,000 60,000 100,000

 







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