Olly Company is a merchandising business that sells dog food. Based on the following information, what is the gross margin for Olly Company? Sales Revenue Cash $500,000 100,000 Accounts Receivable 50,000 Inventory 25,000 Cost of goods sold 300,000 Operating expenses 40,000 O $135,000 O $160,000 O $200,000 O $285,000 k

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Fit-for-Life Foods reports the following income statement accounts for the year ended December 31 Gain on sale of equipment Office supplies expense Insurance expense Sales office salaries expense 6,250 Depreciation expense-office copier 500 Sales discounts 700 16,000 4,000 2,000 Sales returns and allowances 1,300 220,000 TV advertising expense Interest revenue 32,500 10,000 23,000 Sales commission expense 750 Rent expense-Selling space Sales staff wages Cost of goods sold 90,000 13,000 Prepare a multiple-step income statement.

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Garza Company had sales of $155,000, sales discounts of $2,325, and sales returns of $3,720. Garza Company's net sales equals: Multiple Choice $155,000. O $152,675. $6,045. $161,045. $148,955.

For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191 million. What was the amount of Best Buy's cost of goods sold?

The management accountant for Giada's Book Store has prepared the following income statement for the most current year:                                                               Cookbook      Travel Book          Classics          Total     Sales                                                    $65,000           $164,000              $55,000       $284,000     Cost of goods sold                                37,000                67,000                20,000         124,000     Contribution margin                              28,000                97,000                35,000         160,000     Order and delivery processing             21,000                25,000                11,000           57,000     Rent (per sq. foot used)                        5,000                  4,000                  4,000           13,000     Allocated corporate costs                     10,000                10,000                10,000           30,000     Corporate profit…

Calculate the net margin and indicate which of the two companies is more profitable.   Agricorp   Multigrain Net sales ( all on credit) $603,000   $519,000 Cost of goods sold $454,000   $387,000 Income from operations $93,000   $72,000 Interest expense $-   $8,000 Net income $93,000   $38,000              Group of answer choices Agricorp Multigrain Non of the two companies are profitable Both companies are equally profitable      Previous

Olly Company is a merchandising business that sells dog food. Based on the following information, what is the gross margin for Olly Company? Sales Revenue Cash $ 500,000 100,000 50,000 Accounts Receivable Inventory Cost of goods sold Operating expenses Multiple Choice $135,000 $200,000 $285,000 $160,000 25,000 300,000 40,000

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