《会计学原理》课程教学课件（英文讲稿）Chapter 6 Valuing Inventories, Cost of Goods Sold, and Gross Profit

Reporting in theFinancial StatementsIncome Statement (partial)Salesrevenue$900.000540.000Cost of goods sold$360.000Gross profitEnding Bal ance Sheet (partial)Currentassets:$CashXXXXXXShort-term investmentsXXXAccounts receivable,net120,000InventoryXXXPrepaidexpenses

Reporting in theFinancial StatementsNet purchases=Purchases+ Freight-in-Purchase returns & allowances-Purchases discountNet sales= Sales revenue- Sales retums & allowances-Sales discounts

Cost of Merchandise Acquired

Cost of Merchandise Acquired