Reference no: EM131292015
Below are data for Hattie Corporation for the year ended December 31, 2010.
Sales - $250,000
Purchase discounts - 8,000
Sales discounts - 40,000
Operating expenses - 65,000
Sales returns and allowances - 10,000
Freight-in - 30,000
Purchase returns and allowances - 15,000
Inventory, January 1, 2010 - 38,000
Inventory, December 31, 2010 - 32,000
Purchases - 102,000
What are net sales, Cost of Goods Purchased, Cost of Goods Sold, Gross Profit, and Net Income?
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: Below are data for Hattie Corporation for the year ended December 31, 2010. What are net sales, Cost of Goods Purchased, Cost of Goods Sold, Gross Profit, and Net Income?
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