Beginning Inventory: $24,000 Ending Inventory: $ 36,000 COGS: $216,000 Operating Expenses: $80,000 Gross Margin: 120,000 Net...
Beginning Inventory: $24,000
Ending Inventory: $ 36,000
COGS: $216,000
Operating Expenses: $80,000
Gross Margin: 120,000
Net Income/Loss: $ 40,000
Calculate Sales and Net Cost of Purchases.
Homework Answers
Sales = Cost of goods sold + Gross margin
= 216000 + 120000
= 336000
Net cost of purchases = Cost of goods sold + Ending inventory - Beginning inventory
= 216000 + 36000 - 24000
= 228000
Add Answer to:
Beginning Inventory: $24,000
Ending Inventory: $ 36,000
COGS: $216,000
Operating Expenses: $80,000
Gross Margin: 120,000
Net...
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