Compute the Cost of Goods Sold. Explain the steps you used to make the computation. Use illustrations from the chapter readings and the additional information for the brief.Prepare the simple Income Statement, using the information shown above in the additional information for the brief.
Compute the amount of merchandise inventory to be shown on the January 1, 2015, Balance Sheet. Explain the steps you used to make the computation. Use illustrations from the chapter readings and the additional information for the brief. Consider and review the 5-step critical-thinking decision-making matrix located in the MBA Toolbox in Critical Thinking Process and adapt it to this situation.

Write a 1-page analysis according to the Business Brief Guidelines. Complete sentences must be used (bullets not acceptable). Your analysis must be written using a concise writing style. Your brief should incorporate all of the answers to the questions posed above.