Answer:
Lewis Incorporated Cost Of Goods Sold $ 145,600
Clark Enterprises Cost Of Goods Sold $103,400
Explanation:
Lewis Incorporated
Inventory (beginning) $ 16,000
Add Purchases 146,600
Less Purchase returns 7,000
Net Purchases 139,600
Less Inventory (ending) ( 10,000 )
Cost Of Goods Sold $ 145,600
Clark Enterprises
Inventory (beginning) $ 42,000
Add Purchases 165,400
Less Purchase returns 52,000
Net Purchases 113,400
Less Inventory (ending) ( 52,000)
Cost Of Goods Sold $103,400
The brackets indicate that the amount is deducted.
