Exercise 2-6 Traditional and Contribution Format Income Statements LO2-6] Cherokee Inc. is a merchandiser that provided the following information: 11,000 Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit 21,000 Total fixed selling expense 13,000 Total fixed administrative expense Beginning merchandise inventory 000 25,000 Ending merchandise inventory 89,000 Merchandise purchases Required: 1. Prepare a traditional income statement. CHEROKEE, INC. Traditional Income Statement Selling and administrative expenses
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