can you develop the information from her notes explain and show calculations 555616
Inferring Missing Amounts Based on Income Statement Relationships – Supply the missing dollar amounts for the income statement for each of the following independent cases:
|
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can you develop the information from her notes explain and show calculations 555616
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|
Sales Revenue |
Beginning Inventory |
Purchases |
Total |
Ending Inventory |
Cost of |
Gross |
Expenses |
Pretax |
|
A |
$650 |
$100 |
$700 |
$ ? |
$500 |
$ ? |
$ ? |
$200 |
$ ? |
|
B |
1,100 |
200 |
900 |
? |
? |
? |
? |
150 |
150 |
|
C |
? |
150 |
? |
? |
300 |
200 |
400 |
100 |
? |
|
D |
800 |
? |
550 |
? |
300 |
? |
? |
200 |
200 |
|
E |
1,000 |
? |
900 |
1,100 |
? |
? |
500 |
? |
-50 |
Inferring Merchandise Purchases – Abercrombie and Fitch is a leading retailer of casual apparel for men, women, and children. Assume that you are employed as a stock analyst and your boss has just completed a review of the new Abercrombie annual report. She provided you with her notes, but they are missing some information that you need. Her notes show that the ending inventory for Abercrombie in the current year was $372,422,000 and in the previous year was $333,153,000. Net sales for the current year were $3,540,276,000. Cost of goods sold was $1,178,584,000. Net income was $272,255,000. For your analysis, you determine that you need to know the amount of purchases for the year.
Required:
Can you develop the information from her notes? Explain and show calculations.
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