The following data were extracted from the accounting records of Meridian Designs for the year ended March 31, 2012.
Prepare the cost of merchandise sold section of the income statement for the year ended March 31, 2011, using the periodic method. Also determine gross profit.

Question

The following data were extracted from the accounting records of Meridian Designs for the year ended March 31, 2012.
  Prepare the cost of merchandise sold section of the income statement for the year ended March 31, 2011, using the periodic method. Also determine gross profit.

Quizplus · Accepted Answer

The Answer of The following data were extracted from the accounting records of Meridian Designs for the year ended March 31, 2012.
  Prepare the cost of merchandise sold section of the income statement for the year ended March 31, 2011, using the periodic method. Also determine gross profit.

The Following Data Were Extracted from the Accounting Records of Meridian