Homework Answers
1. Gross margin = Sales revenue - cost of goods sold
= (675*2) x 275 - 675 x 275 = $185,625
Percentage of Gross Margin = Gross Margin / Sales revenue
= $185,625 / $371,250 = 50%
2. Gross margin = Sales revenue - cost of goods sold
= 1350 x 275 - 675 x 180 - 600 x 60 - 500 x 35 = $196,250
Percentage of Gross Margin = Gross Margin / Sales revenue
= $196,250 / $371,250 = 52.9%
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Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system and the L...
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Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of...
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Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system...
Cast Iron Grills, Inc., manufactures premium gas barbecue
grills. The company uses a periodic inventory system and the LIFO
cost method for its grill inventory. Cast Iron's December 31, 2018,
fiscal year-end inventory consisted of the following (listed in
chronological order of acquisition):
Units
Unit Cost
8,400
$
800
5,700
900
9,400
1,000
The replacement cost of the grills throughout 2019 was $1,100. Cast
Iron sold 44,000 grills during 2019. The company's selling price is
set at 200% of the...
Check my work Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory...
Check my work Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. Cast Iron's December 31, 2021, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): points Units 9,000 6,000 10,000 Unit Cost $500 600 700 eBook Print The replacement cost of the grills throughout 2022 was $800. Cast Iron sold 47,000 grills during 2022. The company's selling...
Seec: Color Fite's Etects Tools Retour Share Sute Save Print Crop Resize Rotate Free Form Import...
Seec: Color Fite's Etects Tools Retour Share Sute Save Print Crop Resize Rotate Free Form Import Webcam Screenshot Collage image Text Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system and the LIFO cost method for its grill inventory. Cast Iron's December 31, 2018, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): Units 6,600 4,800 7,600 Unit Cost $ 500 600 700 The replacement cost of the grills...
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Cast Iron Grills, Inc., manufactures premium gas barbecue
grills. The company uses a periodic inventory system and the LIFO
cost method for its grill inventory. Cast Iron's December 31, 2016,
fiscal year-end inventory consisted of the following (listed in
chronological order of acquisition):
Units
Unit Cost
8,800
$
600
5,900
700
9,800
800
The replacement cost of the grills throughout 2017 was $900.
Cast Iron sold 46,000 grills during 2017. The company's selling
price is set at 200% of the...
Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. Cast Iron's December 31, 2021, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): Units 7,400 5,200 8,400 Unit Cost $ 900 1,000 1,100 The replacement cost of the grills throughout 2022 was $1,200. Cast Iron sold 39,000 grills during 2022. The company's selling price is set at 200%...
Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. Cast Iron's December 31, 2021, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): Units 7,400 5,200 8,400 Unit Cost $ 900 1,000 1,100 The replacement cost of the grills throughout 2022 was $1,200. Cast Iron sold 39,000 grills during 2022. The company's selling price is set at 200%...
Cast Iron Grills, Inc., manufactures premium gas barbecue
grills. The company uses a periodic inventory system and the LIFO
cost method for its grill inventory. Cast Iron's December 31, 2018,
fiscal year-end inventory consisted of the following (listed in
chronological order of acquisition):
Units
Unit Cost
8,400
$
800
5,700
900
9,400
1,000
The replacement cost of the grills throughout 2019 was $1,100. Cast
Iron sold 44,000 grills during 2019. The company's selling price is
set at 200% of the...
Check my work Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company reports inventory and cost of goods sold based on calculations from a LIFO periodic inventory system. Cast Iron's December 31, 2021, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): points Units 9,000 6,000 10,000 Unit Cost $500 600 700 eBook Print The replacement cost of the grills throughout 2022 was $800. Cast Iron sold 47,000 grills during 2022. The company's selling...
Seec: Color Fite's Etects Tools Retour Share Sute Save Print Crop Resize Rotate Free Form Import Webcam Screenshot Collage image Text Cast Iron Grills, Inc., manufactures premium gas barbecue grills. The company uses a periodic inventory system and the LIFO cost method for its grill inventory. Cast Iron's December 31, 2018, fiscal year-end inventory consisted of the following (listed in chronological order of acquisition): Units 6,600 4,800 7,600 Unit Cost $ 500 600 700 The replacement cost of the grills...
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