ABC Company sells clothes. They sold a coat for $100. It cost them $60 to get the coat from the manufacturer. Cost of Goods Sold would be: Group of answer choices $100 cannot be determined $40 $60
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- A clothing merchant purchases a shipment of clothes for $37,000.00 with discounts of 11% and 5%. He sells it to a customer at a price which includes 21% profit on cost and overhead expenses of 23% on cost. a. How much did it cost him to purchase the container of clothes? $0.00 Round to the nearest cent b. What was the selling price of the container of clothes? 50.00 Round to the nearest cent c. Calculate the break-even selling price. 50.00 Round to the naarast cantA woman’s store sells the following categories of clothing or the following prices : Blouse :GH 14 Skirt:GH 16 Dress:GH 25 Pantyhose:GH 2 pair for GH3 Socks :GH 7 A lady goes to the store on a day when the store has 20% off sale on all skirts.If Yaa buys 2 skirts,1 dress ,and 4 pairs of pantyhose,How much money does lady have to pay ?Pens cost $0.25 each. Pencils cost $0.10 each. Write an algebraic expression that represents the total cost of buying p pens and n pencils.
- You buy a pair of jeans for sale price of $100. The store paid . $40 to its supplier for the pair of jeans. What is the net worth of the store?3. Tim is looking at buying business cards from two differentcompanies. Company A, charges $50 for the design plus 10 cents foreach business card. Company B, charges $5 for the initial design plus 25cents for each business card. Find the cost function, A(q), that gives thecost of buying q business cards for company A. Find the cost function,B(q), that gives the cost of buying q business cards for company B. Findthe quantity of business cards that makes the cost of the cards equal. IfTim is a small business and only need 200 business cards at one time.Which company should he go with? Explain your reasoning.Q1. Murray furniture store sells couches as a retailer. The wholesale cost to them of their most popular model of couch varies depending on how many they purchase for sale. For the first 200 couches the cost is $299 each; for the next 200 couches it drops to $250 each; and for every couch after that it costs $225. Create an excel function using the IF function to show the gross profit under the following scenarios: a. b. It sells at a price of $650 and 350 units are purchased for sale and sold It sells at a price of $625 and 300 units are purchased for sale and sold It sells at a price are $700 and 1,000 units are purchased for sale and sold C.
- Ace Landscape buys 100 shovels for $15 each. Ace sells all 100 shovels at $30. What is the profit made by Ace? (profit = sales - cost) Group of answer choices $1,400 $1,500 $1,600 $3,000Q1) Pier 1 Imports operates almost 1,000 stores around the world. Assume you are dealing with a Pier 1 store in Dallas. Assume the store began with an inventory of 50 chairs that cost a total of $1,500. The store purchased and sold merchandise on account as follows: Purchase 1 60 chairs @ $35 Sale 1. @ $60 100 chairs Purchase 2 . 80 chairs @ $40 Sale 2. @ $70 Assume that Pier 1 uses the FIFO cost method. Cash payments on account totaled $5,100. Operating expenses were $2,400; the store paid two-thirds in cash and accrued the rest as Accounts Payable. Required 1. Prepare a perpetual inventory record, at FIFO cost, for this merchandise. 70 chairs 2. Make journal entries to record the store's transactions.1. A computer table sells for $198.50 and costs $158.70. Find the markup. Find the rate of markup based on the cost. a) b) 2. A flower arrangement is marked up $15, which is 30% of the cost. i) Find the cost. ii) Find the selling price.
- A company purchased 50 units of merchandise for $100 each. After selling 30 units for $125 each, the company had to reduce the remaining units to $90 each in order to sell them. What is the cost of goods sold?A factory sells an item to the wholesalers at a profit of 5%. The wholesaler sells the item to the retailer at a profit of 10%. The retailer sells the item to the public at a profit of 25%. All businesses add VAT of 15%. Required: 2.1 Complete the following table. Factory Wholesaler Retailer Cost Price R 600 ? 5 430,00 ? 3 345,60 ? ? 100,00 ? ? Profit ? ? 2.2 Complete the table below by calculating the missing amounts. Amount (R) VAT (R) 156,80 ? ? VAT ? ? ? 15,68 0 Exempt Selling Price ? ? ? TOTAL (R) ? ? 4058,40 ? ? 74,90 ?XYZ Bakery bakes breads that are sold to local restaurants and grocery stores in Muscat. When 300 breads are baked, the average cost is $1.25 per bread. When 900 breads are baked, the average cost is $0.65 per bread. What is the total cost when 750 breads are baked? Select one: O a. None of the answers given O b. $550.00 O c. $937.50 O d. $487.50 O e. $532.50