CamSmith owns Cam’s Pets,a small retail shop selling pet supplies OnDecember 31 comma 2016,the accou
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CamSmith owns Cam’s Pets,a small retail shop selling pet supplies OnDecember 31 comma 2016,the accounting records of Cam’s Pets showed the? following:
Inventory on December 31, 2016
$
10,400
Inventory on January 1, 2016
15,100
Sales Revenue
58,000
Utilities Expense for the shop
3,700
Rent for the shop
4,900
Sales Commissions
2,950
Purchases of Merchandise Inventory
29,000
Requirements
1What is an income statement forCam’s Petsfor the year ended December? 31,2016
2Cam’s Petssold5,450 units Determine the unit cost of the merchandise? sold, rounded to the nearest cent
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