reported these figures for its fiscal year (amounts in millions):
Homework Answers
| a | Net sales | 1300 | million | |
| b | Ending inventory | 323 | million | =330-7 |
| c | Cost of goods sold | 1157 | million | =1150+7 |
| d | Gross Profit | 143 | million | =1300-1157 |
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reported these figures for its fiscal year (amounts in
millions):
BCF Inc. reported these figures for...
AFW Inc. reported these figures for its fiscal year (amounts in millions): Net sales..........................$ 2,100 Cost...
AFW Inc. reported these figures for its fiscal year (amounts in millions): Net sales..........................$ 2,100 Cost of goods sold..................... Ending inventory ................. 1,140 Suppose AFW later learns that ending inventory was overstated by 58 milion. What are the correct amounts for (a) net sales, (b) ending inventory le cost of goods and propre (a) Net sales would be s million (b) Ending inventory would be 5 million (c) Cost of goods sold would be $ million (d) Gross profit would...
for a recent year techmart reported sales of 50,283 million. its gross profit was $11,565 million....
for a recent year techmart
reported sales of 50,283 million. its gross profit was $11,565
million.
Determining Cost of Goods Sold For a recent year, TechMart reported sales of $50,283 million. Its gross profit was $11,565 million. s What was the amount of TechMart's cost of goods sold? (Enter answer in millions.) million
Hull Company reported the following income statement information for the current year: Sales $ 416,000 Cost...
Hull Company reported the following income statement information for the current year: Sales $ 416,000 Cost of goods sold: Beginning inventory $ 141,000 Cost of goods purchased 279,000 Cost of goods available for sale 420,000 Ending inventory 150,000 Cost of goods sold 270,000 Gross profit $ 146,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $26,000. Given this information, the correct gross profit would be:
Hull Company reported the following income statement information for the current year: Sales $ 416,000 Cost...
Hull Company reported the following income statement information for the current year: Sales $ 416,000 Cost of goods sold: Beginning inventory $ 141,000 Cost of goods purchased 279,000 Cost of goods available for sale 420,000 Ending inventory 150,000 Cost of goods sold 270,000 Gross profit $ 146,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $26,000. Given this information, the correct gross profit would be:
Answer both questions please. QUESTION 22 Maercker Company reported the following year-end amounts Net Sales Beginning...
Answer both questions please.
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Splish Brothers Inc. reported the following income statement data for a 2-year period. 2018 2019 Sales...
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8. The Shirley's Gourmet Foods' merchandise inventory data for the year ended December 31, 2018, follow:...
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For a recent year, Jones Electronics reported sales of $34,151 million. Its gross profit was $8,879...
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Boston Pool Supplies's merchandise inventory data for the year ended December 31, 2019, follow: E(Click the icon to...
Boston Pool Supplies's merchandise inventory data for the year ended December 31, 2019, follow: E(Click the icon to view the inventory data.) Read the requirements. Requirement 1. Assume that the ending merchandise inventory was accidentally overstated by $1,400. What are the correct amounts for cost of goods sold and gross profit? Cost of goods sold in 2019 would be S What is the correct amount of gross profit? Gross profit in 2019 would be $ Requirement 2. How would the...
Barney Corporation reported the following figures for year ending December 31, 2019: Gross profit: 538,000 Cost...
Barney Corporation reported the following figures for year ending December 31, 2019: Gross profit: 538,000 Cost of goods sold: 453,000 Net income: 230,000 Barney Corporation accountants must determine which of these activities are credits (as in if you were doing a t-account, would you debit or credit the item) The impact on accounts receivable from a $10 million collection from a customer. The impact on treasury stock from a company repurchasing $32 million in shares. The impact on inventory from...
AFW Inc. reported these figures for its fiscal year (amounts in millions): Net sales..........................$ 2,100 Cost of goods sold..................... Ending inventory ................. 1,140 Suppose AFW later learns that ending inventory was overstated by 58 milion. What are the correct amounts for (a) net sales, (b) ending inventory le cost of goods and propre (a) Net sales would be s million (b) Ending inventory would be 5 million (c) Cost of goods sold would be $ million (d) Gross profit would...
for a recent year techmart
reported sales of 50,283 million. its gross profit was $11,565
million.
Determining Cost of Goods Sold For a recent year, TechMart reported sales of $50,283 million. Its gross profit was $11,565 million. s What was the amount of TechMart's cost of goods sold? (Enter answer in millions.) million
Answer both questions please.
QUESTION 22 Maercker Company reported the following year-end amounts Net Sales Beginning Inventory Net Cost of Purchases Ending Inventory Cost of Goods Sold Gross Profit $105,000 15,300 67,500 42,900 What is Maercker Company's Ending Inventory and Cost of Goods Sold for the year? O A. Ending Inventory $17,500; Cost of Goods SoldS40,400 O B. Ending Inventory $ 9,900; Cost of Goods Sold $62,100 O C. Ending Inventory $20,700; Cost of Goods Sold- $62,100 D. Ending Inventory...
8. The Shirley's Gourmet Foods' merchandise inventory data for the year ended December 31, 2018, follow: (Click the icon to view the data.) Assume that the ending merchandise inventory was accidentally overstated by $1,800. What are the correct amounts for cost of goods sold and gross profit? Assuming that the ending merchandise inventory was accidentally overstated by $1,800, the correct amount for cost of goods sold is $ Assuming that the ending merchandise inventory was accidentally overstated by $1,800, the...
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