Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0...
A company reported a gross profit percentage of 25% with net sales of $347,800. What is the amount of cost of goods sold? Multiple Choice O $86,950 0 $108,688 0 $326,063 0 $260,850
Gross Profit margin = Gross Profit / Total Revenue, Gross Profit = Sales - Cost of Goods Sold. Operating Profit = Operating Revenue - Cost of Goods Sold (COGS) - Operating Expenses - Depreciation - Amortization. However, for a hospital, there is no "Cost of Goods Sold", so how to calculate Gross Profit margin and Operating Profit ?
A 30% gross profit percentage means that: A. for each dollar of sales, the company has a cost of goods sold of seventy cents. B. for each dollar of sales, the company has a gross profit of thirty cents. C. for each dollar of sales, the company has a cost of goods sold of thirty cents. D. A and B
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
Correct reporting of these costs are important as many investors look at a company's gross profit or gross profit percentage to determine the value of the company. Net sales revenue X,XXX Cost of goods sold X,XXX Gross profit XXXX Gross profit % = Sales/Gross Profit If cost were incorrectly classified as period costs versus product cost, net income would not change but gross profit would be higher than if the allocation were correct. Do you think this cost classification is...
Sparks Company reported sales revenue of $360,000, operating expenses of $50,000, and a net loss of $45,000 for the most recent fiscal year. What amount did Sparks report for cost of goods sold?
Which of the following statements regarding gross profit percentage is not correct? The gross profit percentage measures the percentage of profit earned on each dollar of sales. O A decreasing gross profit percentage means that the company is selling products for a greater markup over its cost. O Gross profit percentages vary across industries It is possible for a company to increase both its gross profit percentage and net income without increasing the dollar amount of sales Garcia Company is...
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%
Toyota Motor Corp. Use annual report 2017 Using the Annual Report of your selected company answer the following questions in the Discussion: What is the value of the company's inventory at year end? What was the amount of cost of goods sold for the year? What income statement format does the company use? Explain. Compute the company's gross profit percentage for the year end. Did the gross profit percentage improve, worsen, or hold steady? How does the company's gross profit...
For a recent year, Jones Electronics reported sales of $34,151 million. Its gross profit was $8,879 million. What was the amount of Jones Electronics cost of goods sold? (Enter answer in millions.)