Net sales Cost of goods sold Beginning inventory $ 180,000 124,000 41,000
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000Inventory Analysis Callahan Company reported the following information for the current year. Required: 1. Compute Callahans (a) gross profit ratio, (b) inventory turnover ratio, and (c) average days to sell inventory. (Round all answers to two decimal places.) 2. Explain the meaning of each number.180,000 Net sales 124,000 Cost of goods sold Beginning inventory 41,000 Ending inventory 31,000 a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) $
- Use the following information: Net sales Cost of goods sold $235,000 168,000 52,000 42,000 Beginning inventory Ending inventory a. Calculate the inventory turnover ratio. b. Calculate the average days in inventory. c. Calculate the gross profit ratio.Determine the Sales for the year, Gross Profit P240,000.00, Ending Inventory P120,000.00, Goods available for sale P 200,000.00 P 460,000.00 P 320,000.00 P 400,000.00 P 300,000.00A company shows the following balances: Sales Revenue $2962000Sales Returns and Allowances 402000Sales Discounts 60000Cost of Goods Sold 1350000 What is the gross profit rate? 46.0%58.0%54.0%66.0%
- I. Compute the peso amount of each item indicated by a letter below: (8 points) Beginning Net Inventory Ending Purchases Inventory Sales 1.)175,000 2.) d. 62,000 3.) 280,000 72,000 4.) 440,000 90,000 a. 85,000 e. 217,000 i. 60,000 68,000 f. Cost of Gross Sales Profit b. 158,000 g. 110,000 j. Operating Expenses 90,000 110,000 90,000 100,000 k. C. h. 170,000 Net Income (Loss) 62,000 20,000 (51,000) 90,000Given the information below, what is the gross profit? Sales revenue Accounts receivable Ending inventory Cost of goods sold Sales returns Multiple Choice $76,000 $197,000 $79,000 $106,000 $ 345,000 60,000 118,000 239,000 30,000number of days' sales in inventory ratio, Cost of goods sold Beginning inventory Ending inventory $722,000 53,000 67,000
- Cost of goods sold Average inventory 2020 2021 2022 $923,550 $980,640 126,290 Inventory Turnover 7.3 2021 6.3 5.3 156,510 2022 (a) Do a trend analysis of the inventory turnover for each year. Also calculate the days to sell invento (Round inventory turnover to 2 decimal places, e.g. 18.42 and number of days to 1 decimal place, e.g. 13.6., $1,149,910 $1,329,510 208,410 Number of Days 2023 321,820 days days days 2024 $1,408,530 451,860If the estimated rate of gross profit is 30%, what is the estimated cost of the inventory on September 30, based on the following data? Sep. 1 Inventory (at cost) Sep. 1-30 Purchases, net (at cost) Sep. 1-30 Sales a. $36,060 Ob. $57,000 c. $179,014 Od. $84,140 $73,154 190,000 120,200Q3 Computational. From the following information, determine the amount of ending inventory.Beginning Inventory - P20,000Purchases - 41,000Purchase Returns and Allowances - 3,000Purchase Discounts - 4,000Freight-In – 10% of gross purchasesCost of Goods Available for Sale - 55,000Cost of Goods Sold - 22,500