12:14:3845% | ו. |וויIf current assets amounted to1 pointP600,000 and current liabilitiesamounted to P200,000, what isthe current ratio of the entity? *P800,000P400,0003O 1/3Net Sales for the year is1 pointP900,000. If cost of goodssold is P400,000, what is thegross profit ratio? *0.4444O 2.25O 1.8O 0.5555 If average inventory is P80,000and the inventory turnoverratio is 20, how much is thecost of goods sold of thecompany? *O P1,600,000O P4,000O .00025P80,020

Name: 12:14:3845% | ו. |וויIf current assets amounted to1 pointP600,000 and
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Description: 12:14:3845% | ו. |וויIf current assets amounted to1 pointP600,000 and current liabilitiesamounted to P200,000, what isthe current ratio of the entity? *P800,000P400,0003O 1/3Net Sales for the year is1 pointP900,000. If cost of goodssold is P400,000,

1. Calculate the current ratio by dividing the current assets which is P600,000 by the current…

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If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? P800,000 P400,000 3 O 1/3 Net Sales for the year is P900,000. If cost of goods sold is P400,000, what is the gross profit ratio? * 0.4444 2.25 1.8 0.5555

If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? P800,000 P400,000 3 O 1/3 Net Sales for the year is P900,000. If cost of goods sold is P400,000, what is the gross profit ratio? * 0.4444 2.25 1.8 0.5555

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13: Accounting For Merchandise Inventory

Section: Chapter Questions

Problem 1CE: LO1 If the ending inventory is overstated by 10,000, indicate what, if anything, is incorrect about...

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LO1 If the ending inventory is overstated by 10,000, indicate what, if anything, is incorrect about the following: Cost of goods sold___________ Gross profit___________ Net income___________ Ending owners capital___________
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45 Calculate gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return inwards OMR 5000. t of O a. OMR 10000 stion O b. OMR 15000 O c. OMR 5000 O d. OMR 45000 In which of the following Inventory techniques are the 立
On the basis of the data shown below: Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) МX62 80 $42 $40 05T4 155 20 23 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9. $ 6,925 x
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