Absorption Costing Statement Flashcards by Joe Bannon

Q

First 5

A

Sales
Beginning Inventory
Add: COGM
Goods Available for Sale
Less: Ending Inventory

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Q

Middle 2 (RHS)

A

Costs of Goods Sold
Gross Margin

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Q

Bottom 4

A

Less: Selling + Admin expenses
Variable
Fixed
Net Income

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