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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Brookside Equipment Company uses the periodic inventory system.  Brookside reported the following selected amounts at June 30, 2017:

Merchandise Inventory, July 1, 2016   $22,000
Merchandise Inventory, June 30, 2017       19,000
Purchases       96,000
Purchase  Discounts        5,000
Purchase Returns and Allowances        8,500
Freight In       3,200
Sales Revenue     234,000
Sales Discounts        7,400
Sales Returns and Allowances       14,200
Common Stock       45,000
Retained Earnings       24.50

Requirement A:     Compute net sales revenue.
Requirement B:    Compute cost of goods sold.
Requirement C:    Compute gross profit.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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