Business, 16.06.2020 18:57 oktacos

Cherokee Inc. is a merchandiser that provided the following information: Amount
Number of units sold 13,000
Selling price per unit $ 17
Variable selling expense per unit$ 2
Variable administrative expense
per unit $ 2
Total fixed selling expense $ 21,000
Total fixed administrative expense $ 14,000
Beginning merchandise inventory $ 9,000
Ending merchandise inventory $ 23,000
Merchandise purchases $ 89,000
Required:
1. Prepare a traditional income statement.
2. Prepare a contribution format income statement.

Answers: 2

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Cherokee Inc. is a merchandiser that provided the following information: Amount
Number of uni...

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