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Streif Incorporated, a local retailer, has provided the following data for the month of ...

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Streif Incorporated, a local retailer, has provided the following data for the month of ...

Streif Incorporated, a local retailer, has provided the following data for the month of June:

Merchandise inventory, beginning balance	$ 46,000
Merchandise inventory, ending balance	$ 52,000
Sales	$ 260,000
Purchases of merchandise inventory	$ 128,000
Selling expense	$ 13,000
Administrative expense	$ 40,000

The net operating income for June was:

▸ $132,000

▸ $126,000

▸ $85,000

▸ $79,000

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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