Question

Part 3 of 4 nim 0.75 points Required information (The following information applies to the questions displayed below.) 1. On October 1, the Business Students' Society (BSS) placed an order for 150 golf shirts at a unit cost of $16, under terms 2/10. 2. The order was received on October 10, but 30 golf shirts had been damaged in shipment. On October 11, the damaged golf shirts were returned. On October 12, BSS complained that the remaining golf shirts were slightly defective so the supplier granted a GL $120 allowance. BSS paid for the golf shirts on October 13. 6. During the first week of October, BSS received student and faculty orders for 120 golf shirts, at a unit price of $33.50, on terms 2/10, n/30. The golf shirts were delivered to these customers on October 18. Unfortunately, customers were unhappy with the golf shirts, so BSS permitted them to be returned or gave an allowance of $8.50 per shirt. 8. On October 21, one-half of the golf shirts were returned. 9. On October 22, the remaining 60 customers were granted the allowance on account. 10. The customers paid their remaining balances during the week of October 25. ON eBook Print References Determine the percentage of net sales that is available to cover operating expenses 3. other than cost of goods sold. (Round your answers to the nearest whole percentage amount.) Gross Profit Percentage

Answer 1

Answer Page No 0 © Grosse profit Percentage sales revenue = $33.50 x 120 golf shirts =$ 4020 sales silwn and allowances = (120x33150") + (se ren = $2010 if 510 = $ 2500 Sales discounts = ( 4020 – 2010 - 510) x2 4. = 1500x 24. 30 shirt) Net sales - 4020 – 22520 – 30 = $1470 Net sales = $1470 Coaf of gods sold =(150X16)-(30X 17) – 120 – 29. prosis - forum Cisoxls) – (30x46) - 120 - (20/x{10616) + (30ying -120]

*888* -tyoud syoung 838 – Okul = klets sales - cost of goods sold Gross profit = ...coof of goods sold -8822 $882 e C88-6961 h 941 – 6951 2 - (98-001-08h - 00hc ) = 98-001 - 08h - 00hc loos/X 4.-021-08h - 00he) .-031-03h-00hc 621-03-2012]X"46) -001-08h - 00h) - (Cozi- 08h-20hz]x .0) – 001-08h- donc) = © oma boy

Page No ③ Grow Gross profit profit percentage - let sales 588 1470 = 0.4 = 40% .: Grons profit percentage = 40%