7. Construct a P/L skeleton in $ using the following departmental figures. Use the gridprovided below.Gross sales.$282,000Customer returns/allowances...$32,000Opening inventory (C). .$50,000Closing inventory (CL. . $4,00Purchases (C) .$80,000Freight .$5,000Cash discounts....3%Returns to vendor...2%Alteration/workroom costs..1%Advertising .$17,000Rent..$15,000Payrol..$75,000Utilities...$13,000

Answered: Construct a F

Business

Accounting

Construct a F

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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