Solution-Compute the purchases and the net income

Compute the purchases and the net income

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Question - The following data are availale for Cut Throat Products, a partnership:

Year	Sales	Beginning Inventory	Ending Inventory	Operating Expenses
2003	$93,600	$16,000	$24,000	$8,000
2004	$93,600	$16,000	$24,000	$18,000
2005	$93,600	$16,000	$24,000	$12,000

Compute the purchases and the net income for the partnership for 2013,2014, and 2015, assuming that the firm sell its merchndise at 25 percent above cost.

Reference no: EM132083291

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Compute the purchases and the net income

Reference no: EM132083291

Reference no: EM132083291

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