Business
Business, 11.05.2021 19:30, kayranicole1

Cost of Goods Sold Section, Multiple-Step Income Statement Based on the information that follows, prepare the cost of goods sold section of a multiple-step income statement.
Merchandise Inventory, January 1, 20-- $35,000
Estimated Returns Inventory, January 1, 20-- 2,000
Purchases 106,000
Purchases Returns and Allowances 5,800
Purchases Discounts 3,230
Freight-In 700
Merchandise Inventory, December 31, 20-- 29,500
Estimated Returns Inventory, December 31, 20-- 1,500
Income Statement
For Year Ended December 31, 20--
Cost of goods sold:
$fill in the blank 2
fill in the blank 4 $fill in the blank 5
$fill in the blank 7
$fill in the blank 9
fill in the blank 11 fill in the blank 12
$fill in the blank 14
fill in the blank 16
fill in the blank 18
$fill in the blank 20
$fill in the blank 22
fill in the blank 24 fill in the blank 25
Cost of goods sold $fill in the blank 26

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