Burlington Garden Supplies Income Statement (partial) Year Ended January 31, 2021 Requirement 1. Prepare the company's 2021 income statement through gross profit to show how the company would apply...

A year​ ago, the net realizable value of ending inventory was $14,000​, which exceeded the cost of $12,500. London has determined that the net realizable value of the March 31, 2021​, ending inventory is $10,500

Extracted text: Burlington Garden Supplies Income Statement (partial) Year Ended January 31, 2021 Requirement 1. Prepare the company's 2021 income statement through gross profit to show how the company would apply the lower-of-cost-or-market rule to its inventories. Print Done


Extracted text: Data Table Inventory Cost of Goods Sold Sales Revenue Beg bal 11,000 End bal 16,000 Bal 72,000| Bal 117,000 Print Done