Johny Company is a merchandising company and has the following information: Month June July August September October Budgeted Sales $68,000 72,000 74,000 76,000 78,000
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- Company XYZ has the following information: Beginning Inventory: $20,000 Purchases: $50,000 Ending Inventory: $15,000 Sales Revenue: $100,000 Cost of Goods Sold: $60,000 Calculate the Gross Profit for Company XYZHaack Inc. is a merchandising company. Last month the company's cost of goods sold was $61,500. The company's beginning merchandise inventory was $16,200 and its ending merchandise inventory was $21,300. What was the total amount of the company's merchandise purchases for the month? $56,400 $61,500 $99,000 $66,600The 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. 1,220,000
- 4 Calculate the cost of goods sold dollar value for A65 Company for the month using the first in fırst out method. (FIFO) Provide the calculations. A spreadsheet works best. See example for LIFO. Number of Units Unit Cost Sales Beginning inventory Purchased 800 600 $50 52 $80 90 400 Sold Sold Ending inventory 650The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000Shelcal, Inc. provides the following data for the year2017: Sales revenue $420,000 Sales returns and allowances $1,400 Sales discounts $850 Net sales revenue $417,750 Cost of goods sold $260,000 The cost of goods sold as a percentage of net sales revenue is: a. 62.58% b. 61.90% c. 62.45% d. 62.24%
- Oman Garments sells garments for an average of OMR 12 and which cost OMR 9 This results in cost-to-retail percentage of 75%. Oman Garment beginning inventory has a cost of OMR 200,000, it paid OMR 125,000 for purchases during the month, and it had sales of OMR 340,000. Determine the amount of the cost of inventory sold of Oman Garments. a.OMR 280,000 b.OMR 275,000 c.OMR 265,000 d.OMR 255,000Bolton Company has beginning merchandise Inventory of $500 and an endng merchandise inventory of $700. It has a total sales of $6000 and a gross margin of 25%. Calculate the days's sales inventory: a. 60.83 b.42.59 c.40.56 d.48.67a company reports the following sales related information sales,gross $200,000 sales returns and allowances $16000 sales discounts $4000 sales salaries expense $10000 question: Prepare the net sales portion only of this company's multiple step income statement
- Assume the following information for a merchandising company: Number of units sold 20,000Selling price per unit $ 30Variable selling expense per unit $ 3.6Variable administrative expense per unit $ 2.6Fixed administrative expenses $ 50,000Beginning merchandise inventory $ 24,000Ending merchandise inventory $ 19,000Merchandise purchases $ 340,000 What is the contribution margin?Show the solution in good accounting form The home office ships merchandise to the branch at 25 percent above cost. At what amount should the Home Office account be credited if merchandise costing P120,000 will be shipped?Help Save & Cushman Company had $842,000 in sales, sales discounts of $12,630, sales returns and allowances of $18,945, cost of goods sold of $399,95O, and $289,650 in operating expenses. Gross profit equals: Multiple Choice $810,425. $120,825. $410,475. S423105 5:00 PM nere to search 96% 3/1/202