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Fanelli Corporation, a Merchandising Company, Reported the Following Results for July

Question 185

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Fanelli Corporation, a merchandising company, reported the following results for July:
Fanelli Corporation, a merchandising company, reported the following results for July: Cost of goods sold is a variable cost in this company. Required:a. Prepare a traditional format income statement for July.b. Prepare a contribution format income statement for July. Cost of goods sold is a variable cost in this company.
Required:a. Prepare a traditional format income statement for July.b. Prepare a contribution format income statement for July.

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