Business, 27.03.2020 20:24, izzy488

Kleiner Merchandising Company
Accumulated depreciation $700
Beginning inventory 11,000
Ending Inventory 6,600
Expenses 2,050
Net Purchases 13,500
Net Sales 21,500

Krug Service Company
Expenses $9,700
Revenues 26,000
Cash 900
Prepaid rent 880
Accounts payable 200
Equipment 2,500

a. Compute the goods available for sale, and the cost of goods sold and gross profit for the merchandiser. Hint: Not all information may be necessary.

b. Use the above information from a service company and from a merchandiser to compute net income.

Answers: 2

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Kleiner Merchandising Company
Accumulated depreciation $700
Beginning inventory 11,000<...