Exercise 9-5 (Part Level Submission) Presented below is information related to Sage Enterprises.

Exercise 9-5 (Part Level Submission) Presented below is information related to Sage Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $17,550 $17,667 $19,890 $16,380 Inventory at LCNRV 16,965 14,742 18,252 15,561 Purchases for the month 19,890 28,080 31,005 Sales for the month 33,930 40,950 46,800 Collapse question part (a) Partially correct answer. Your answer is partially correct. Try again. From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

 

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