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

Question 3

Essay

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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