Suppose Bonzai Boards, Inc., had sales of $230,000 and estimated refund liability of $24,000. Cost of goods sold wa...

Question

Question

Answer 1

Answer #1

Answer: option A ( $131000) Explanation: Gross profit Calculation sales (-) sales setores (refonds) $230000 (424000) 6 cous (

Answer 2

Similar Homework Help Questions

8. Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and...

8. Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $76,000, and operating profit of $87,000. What was the value of depreciation expense? O $57000 O $155,000 O $157000 O $166,000
A company has sale revenue of $230,000 if cost of goods sold is 65% of sales...

A company has sale revenue of $230,000 if cost of goods sold is 65% of sales revenue what is the gross profit?
7. Candy Company had sales of $250,000 and cost of goods sold of $117,500. What is...

7. Candy Company had sales of $250,000 and cost of goods sold of $117,500. What is the gross profit margin (ratio of gross profit to sales)? o 74% о 53% o 61% o 43%

Swank Clothiers had sales of $397,000 and cost of goods sold of $334,000. a. What is...

Swank Clothiers had sales of $397,000 and cost of goods sold of $334,000. a. What is the gross profit margin (ratio of gross profit to sales)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) b. If the average firm in the clothing industry had a gross profit of 20 percent, how is the firm doing?
Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative...

Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $67,000, and operating profit of $89,000. What was the value of depreciation expense? $162,000 O $164,000o $173,000o O $64,000
A company had sales of $352,000 and cost of goods sold of $201,000. Its gross profit...

A company had sales of $352,000 and cost of goods sold of $201,000. Its gross profit equals $151,000. True or False

If Kingbird, Inc. has net sales of $425000 and cost of goods sold of $324000, Kingbird’s...

If Kingbird, Inc. has net sales of $425000 and cost of goods sold of $324000, Kingbird’s gross profit rate is
Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were...

Tee Corporation had beginning inventory of $16,000 and ending inventory of $24,000. Its net sales were $155,000 and net purchases were $89,000. Tee's cost of goods sold for the period is O A. $81,000. O B. $97,000. O C. $58,000. OD. $50,000.
Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold 598,000...

Mercer, Inc. provides the following data for 2019: Net Sales Revenue Cost of Goods Sold 598,000 - 370,000 The gross profit as a percentage of net sales is (Round your answer to two decimal places.) O A. 36.25% OB. 61.87% O C. 39.13% OD. 38.13%

During the current year, Swift Sporting Goods, Inc. had Sales of $5,656,650; Total Expenses (not including...

During the current year, Swift Sporting Goods, Inc. had Sales of $5,656,650; Total Expenses (not including Cost of Goods Sold) of $5,438,628; and Gross Profit of $2,554,390. What was Mattel’s Cost of Goods Sold for the year? ($ in thousands)