QID: #18257

Subject: Accounting Status: Verified Solution Available
The following data are for Maurice Department Store. The account balances (in thousands) are for 2013. (Click the icon to view the account balances.) Marketing, distribution, and customer-service costs $ 30,000 Merchandise inventory, January 1, 2013 25,000 Utilities 10,000 General and administrative costs 42,000 Merchandise inventory, December 31, 2013 38,000 Purchases 156,000 Miscellaneous costs 6,000 Transportation-in 8,000 Purchase returns and allowances 5,000 Purchase discounts 9,000 Revenues 295,000 Requirements 1. Compute (a) the cost of goods purchased and (b) the cost of goods sold. 2. Prepare the income statement for 2013.
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