Ahku Mab LTD has 13,500 sales revenue in 2021. The inventory information for the year is Beginning inventory -2,500 Purchased merchandise -10,500 Import duties -250 freight -in cost - 590 Shipping insurance -30 Ending inventory - 5,000 A) how much is the total sales to be reported on the income statement ? B) calculate the gross profit for the year 2021 C) calculate the cost of goods sold for the year ended 2021

Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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Chapter15: Financial Statement Analysis
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Ahku Mab LTD has 13,500 sales revenue in 2021. The inventory information for the year is Beginning inventory -2,500 Purchased merchandise -10,500 Import duties -250 freight -in cost - 590 Shipping insurance -30 Ending inventory - 5,000 A) how much is the total sales to be reported on the income statement ? B) calculate the gross profit for the year 2021 C) calculate the cost of goods sold for the year ended 2021
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