San Diego State University Operations And Supply Chain Management Assignment Help - Inventory
Question - At the end of Cortez Department Storeâ€™s fiscal year on November 30, 2012, these accounts appeared
in its adjusted trial balance.
Freight-in $ 7,500
Purchase Discounts 6,300
Purchase Returns and Allowances 2,700
Sales Revenue 1,000,000
Sales Returns and Allowances 20,000
1. Merchandise inventory on November 30, 2012, is $52,600.
2. Cortez Department Store uses a periodic system.
Prepare an income statement through gross profit for the year ended November 30, 2012.
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