Kleiner Merchandising Company
Beginning inventory 8,500
Ending Inventory 4,500
Net Purchases 9,500
Net Sales 16,500
Krug Service Company
Prepaid rent 640
Accounts payable 200
a. Compute gross profit, the goods available for sale, and the cost of goods sold for the merchandiser. Hint: Not all information may be necessary.
b. Use the above information from a service company and from a merchandiser to compute net income.
a. Goods available for sale: ______
Cost of goods sold: _______
Gross profit: _____
b. Net income for Krug: _____
Net income for Kleiner: ______
PLEASE SHOW YOUR WORK!!!!! I AM ACTUALLY TRYING TO LEARN. THANKS!
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