Gross profit | ||||||
sales | 620,000 | |||||
less: cost of goods sold | -300,000 | |||||
Gross profit | 320,000 | |||||
Gross profit percentage = | 320,000/620,000 | |||||
52% | ||||||
option c | ||||||
52% | ||||||
Maydak Company reported the following items for the month of July: $300,000 $620,000 Cost of goods...
Maydak Company reported the following items for the month of July! Sales revenue $610,000 Cost of goods sold $290,000 Beginning inventory $65,400 Ending inventory $76,200 The gross profit percentage is: (Round your final answer to the nearest percentage.) O A. 48% OB. 52% OC. 22% OD. 26%
Marian Company reported the following items for the month of July Sales revenue Beginning inventory $472,300 $70,400 Cost of goods sold Ending inventory $350,000 $74,200 1 Inventory turnover is: (Round your final answer to two decimal places.) O A. 1.69. OB. 4.72 OC. 4.97 OD. 484. esti nov le
The following are the transactions for the month of July. Unit Selling Price 46 July 1 July 13 July 25 July 31 11 Units Unit Cost $10 230 (100) 176 Beginning Inventory Purchase Sold Ending Inventory $14 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole...
The following are the transactions for the month of July. Unit Selling Price Unit Cost Sle July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units 51 255 (100) 206 $16 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit. under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar...
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 50 $ 10 July 13 Purchase 250 13 July 25 Sold (100 ) $ 15 July 31 Ending Inventory 200 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Units Cost per Unit Total Beginning Inventory 50 $10.00 $500...
Van Dyke Company reported the following July purchases and sales data. They also had 25 units @ $26 per unit at the beginning of July. The company uses a perpetual inventory system. Sales Units Date Purchases Units Cost/Unit Total Cost July 1 Beginning Inventory 25 $26 = $650 July 3 Purchase 5 $23 = $115 July 8 Sale July 12 Purchase 5 $21 = $105 July 17 Purchase 13 $22 = $286 July 23 Sale July 31 Purchase 9 $24...
Pronghorn Company reported the following information for November and December 2019. November December Cost of goods purchased $506,000 $ 690,000 Inventory, beginning-of-month 105,000 92,600 Inventory, end-of-month 92,600 ? Sales revenue 810,000 964,000 Pronghorn’s ending inventory at December 31 was destroyed in a fire. Compute the gross profit rate for November. Using the gross profit rate for November, determine the estimated cost of inventory lost in the fire.
Required information [The following information applies to the questions displayed below) The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory 25e (100) Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit. under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and...
Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost FIFO (PERIODIC) Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 40 $10 200 (100) 140 $14 Units Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase...
Blue Company has the following data for the year. Beginning inventory Net sales revenue $210,000 $300,000 Net purchases Normal gross profit rate $140,000 30% What is the estimated ending inventory? (Round your final answer to the nearest dollar) O A. $140,000 O B. $350,000 OC. $260,000 OD. $210,000