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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 2
Shown here are annual financial data at December 31, 2015, taken from two different companies.
Required
1. Compute the cost of goods sold section of the income statement at December 31, 2015, for each company. Include the proper title and format in the solution.
2. Write a half-page memorandum to your instructor ( a ) identifying the inventory accounts and ( b ) describing where each is reported on the income statement and balance sheet for both companies.
Required
1. Compute the cost of goods sold section of the income statement at December 31, 2015, for each company. Include the proper title and format in the solution.
2. Write a half-page memorandum to your instructor ( a ) identifying the inventory accounts and ( b ) describing where each is reported on the income statement and balance sheet for both companies.
Explanation
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Verified
Income statement
1.
Income statemen...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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