Question

Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $290,990 $ 361992 $406,460 Sales returns and allowances (11,310) (13,570) Net sales 279680 348,422 Beginning inventory 18,810 30,350 Ending inventory 30350 291870 Purchases 11540 261,520 296,357 Purchase returns and allowances (4,790) (8,210) (10,760) Freight-in 8,610 9,340 13,020 Cost of goods sold (231,970) (293000) (292,188) Gross profit on sales 47,710 85,860 91,540

Answer 1

Incomplete question. However, I determined the missing amounts for each tabulation, and stated them below:

Step-by-step explanation:

• Sales revenue: 2014= $360,820.
• Sales returns and allowances: 2015= 20,740.
• Net sales: 2013= 282970, 2015= 393,440.
• Beginning inventory: 2015= 42,010.
• Ending inventory: 2013= 33,560, 2014= 42,010, 2015= 47,870.