Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis:
Calculation of Net Sales | |
Cash Sales | $2,94,300 |
Credit sales | $29,000 |
Less:Merchandise return | -$1,730 |
Less:Partial Allowance | -$1,980 |
Net Sales | $3,19,590 |
Calculation of Cost of goods sold | |
Cost of Merchandise | $1,60,750 |
Cost of Merchandise | $13,050 |
Less:Cost of Merchandise returned | -$930 |
Cost of goods sold | $1,72,870 |
Gross Profit($319,590-172,870) | $1,46,720 |
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following...
Campus Stop, Inc. is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis a. Sold merchandise for cash (cost of merchandise $147.990). $266,200 b. Received merchandise returned by customers an unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $740). 1,690c. Sold merchandise (costing $7,200) to a customer on account with term n/30. 16,000d. Collected half of the balance owed by the customer in (c). ...
Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $152,070). $ 275,000 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $800). 1,600 c. Sold merchandise (costing $9,000) to a customer on account with terms n/30. 20,000 d. Collected half of the balance owed by the customer in...
board MyCourses CCSU-Blackboard L. Central Pipeline Mal. Marques, Carolina L. (Studex Correct Ch 2 Solved: Ch. 6 Saved Help Save & Exit Check me (The following information applies to the questions displayed below.) Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $276,700 a. Sold merchandise for cash (cost of merchandise $152,590). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash...
Required information CP6-3 Recording Cash Sales, Credit Sales, Sales Returns, and Sales Allowances and Analyzing Gross Profit Percentage [LO 6-4, LO 6-6] [The following information applies to the questions displayed below.] Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $268,900 a. Sold merchandise for cash (cost of merchandise $149, 510). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund...
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $63,200 a. Sold merchandise for cash (cost of merchandise $34,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $450 ). c. Sold merchandise (costing $6,175 ) to a customer on account with terms...
Required information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms...
Required information [The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms...
[The following information applies to the questions displayed below.] Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $75,200 900 a. Sold merchandise for cash (cost of merchandise $40,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $540 ). c. Sold merchandise (costing $7,600 ) to a customer on account with terms n/60....
Larry's Building Supplies (LBS) is a local hardware store. LBS uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandi se for cash (cost of merchandi se $224, 350). b. Received merchandi se returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $1, 900). Sold merchandi se (costing $3, 000) to a customer on account with terms n/30. d. Collected half of the balance owed by...
Required Information [The following information applies to the questions displayed below.) Hair World Inc. is a wholesaler of hair supplies. Hair World uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: $63,200 a. Sold merchandise for cash (cost of merchandise $34,797). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $450 ). c. Sold merchandise (costing $6,175 ) to a customer on account with terms...