Jan Cahilig Traders started operating in 2020. For the year ended 2020, the sales, purchases, and closing inventory are P500,000, P300,000 and P40,000. What is the gross profit for the year ended 2020?

Anpanman, Inc. reported the following information for the year 2020: • Beginning Inventory- P5,000,000 • Purchases- P26,000,000 • Freight In- P2,000,000 • Purchase returns and allowances- P3,500,000 • Purchase discounts- P1,500,000 • Sales- P40,000,000 • Sales returns- P3,000,000 • Sales allowances- P500,000 • Sales discounts- P1,000,000 Physical inventory on the company’s warehouse was made at year-end, which shows that P4,000,000 worth of inventory is physically located within the company’s premises. However, unsold goods out on consignment with selling price of 1,000,000 are still on the consignee’s premises. Based on history, Anpanman uses a gross profit rate of 40%. How much is the estimated inventory loss? A. P2,100,000 B. P2,700,000 C. P1,200,000 D. P1,800,000

ABC company's records included the following, assume 365 days in a year: Accounts Receivable, 12/31/20 $ 860,000 Accounts Receivable, 12/31/19 780,000 Merchandise Inventory, 12/31/20 900,000 Merchandise Inventory, 12/31/19 800,000 Net Sales.during 2020 8,364,000 Cost of Sales during 2020 5,950,000 Compute the inventory turnover for 2020. O7.4 times O 7 times 6.8 times 6.6 times

The 2020 financial statements of Blossom Company reported a beginning inventory of $90000, an ending inventory of $130000, and cost of goods sold of $847000 for the year. Blossom’s inventory turnover for 2020 is 7.7 times. 5.5 times. 9.4 times. 6.5 times.

Aa.69.

For 2022 Amaya's Soul Food Catering had total sales of $597,341; sales returns and allowances of $10,514; beginning inventory costs of $38,917; cost of purchases, $261, 053; and year-end inventory of $42,013. Rounded to the nearest dollar (i.e. 12), what are their Net Sales? A • Rounded to the nearest dollar (i.e. 12), what is their Cost of Goods Sold? A • Rounded to the nearest dollar (i.e. 12), what is their Gross Profit? A/

Botica Heaven has a total annual sale of PhP 40 M and is in operation with an inventory value of Php 3.2M in January 2020, and Php 1.5 M in December 2020. Calculate for the inventory turnover. Inventory Turnover = 40 M/ 1.5 M – 3.2 M Inventory Turnover = 40 M - (3.2 M/ 1.5 M) Inventory Turnover = 40 M/ 3.2 M – 1.5 M Inventory Turnover = 3.2 M/ 1.5 M – 40 M   Which of the following statements is TRUE? The inventory is sold and replenished 2 times in a year. The inventory is sold and replenished 4 times a year. The inventory may be sold and replenished anytime during the year. The inventory is sold and replenished 1.96 times a month.   What is the implication of Botica Heaven's inventory?  The purchase orders are released anytime. The schedule of purchase orders are released twice a month. Purchase orders are released once to four times a month. The schedule of the release of purchase orders is varied.   Which of the following is TRUE regarding the stocks of Botica Heaven? The stocks of…

The following information is shown in the accounting records of ToDas Company for the current year 2020. Balances as of Jan 1 Cash 620,000; Accounts receivable 670,000; Inventory 860,000; Accounts Payable 530,000. Balances as of Dec 31 Accounts receivable 900,000; Inventory 780,000; Accounts Payable 480,000. The total sales and cost of goods sold were P7,980,000 and P5,830,000, respectively. All sales and all merchandise purchases were made on credit. Various expenses of P1,070,000 were paid on cash. Assume that there were no other pertinent transactions. The cash balance on December 31, 2020

Sheridan Company provides the following information for the month ended October 31, 2022: sales on credit $366,100, cash sales $108,300, sales discounts $5,100, and sales returns and allowances $12,900.Prepare the sales section of the income statement based on this information.

What is the total gross sales for November 2020?