41.5k views
5 votes
sales 21,600 sales discount 500 sales and returns allowance 230 beginning inventory 690 net purchase 13700 ending inventory 600 operating expense 3800 what is the net income

User Mirdrack
by
8.6k points

1 Answer

0 votes
Net sales=Sales - sales discount - sales and returns allowance
Net sales=21,600−500−230=20,870

Net sales 20870
Add ending inventory 600
Less beginning inventory 690 net
Less purchase 13700
Grossprofit=20,870+600−690−13,700
=7,080

Gross profit 7080
Less operating expenses 3800
Net income 7,080−3,800=3,280
User Ivan Kush
by
8.1k points