The ABC Boutique had the following information at June 30, 20X1:     Purchases, P180,000     Inventory, June 1, P8,000     Purchase returns, P2,000     Freight in, P4,000     Sales, P250,000     Sales discount, P20,000     If the gross profit is 25% of cost of sales. How much is the inventory at June 30?   a. 6,000 b. 10,000 c. 17,500 d. 18,000

Q: Given the information below, what is the gross profit?  Sales revenue $ 305,000 Accounts…

A: The objective of the question is to calculate the gross profit given the sales revenue, cost of…

Q: Suppose have The Following infrmaion you Cost Per unit units To tar Beguing invenbery 200 1o…

A:

Q: Funky Dance sold inventory for $250,000, terms 1/10, n/30. Cost of goods sold was $168,000. How much…

A: Formula: Reported sales revenue = Sales value - Discount amount

Q: Snyder’s total cost of goods available for sale would be:a. $2,000.b. $7,200.c. $8,000.d. $9,200.

A: The cost of goods available for sales are the sum total of beginning inventory Company has for sale…

Q: 3. The following information is available for the Bronson Company for the three months ended…

A: The cost of goods sold can be computed from the gross margin ratio to compute the ending inventory…

Q: During the current year, merchandise is sold for $732,000. The cost of the goods sold is $512,400.…

A: Gross profit percentage is calculated by dividing gross profit by net sales revenue. Gross profit…

Q: A company has sales of $1,200,000. COGS is $900,000. Average inventory is $200,000. What is the…

A: An evaluation method that provides information regarding the number of days inventory held in the…

Q: Rizza Co. has an average age of inventory equal to 25 days. If its end of year inventory level is…

A: Average age of the inventory is described as the number of days the company requires to sell the…

Q: Company XYZ has the following information:   Beginning Inventory: $20,000   Purchases: $50,000…

A: INCOME STATEMENTIncome Statement is one of the Important Financial Statement of the Company. Income…

Q: Use the following information: Net sales $ 180,000 124,000

A: Gross profit is calculated as difference between sales and cost of goods sold. Gross profit = Sales…

Q: SCC Company reported the following for the current year: Net sales Cost of goods sold Beginning…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: Using the following information, what is the cost of goods sold? Purchases $32,019   Selling…

A: The cost of goods sold includes the direct material labor cost and material cost incurred on the…

Q: Given the information below, what is the gross profit?          Sales revenue $ 305,000…

A: The correct answer is $32,000.

Q: The following information is available for Heller Company: Beginning inventory $60,000 Cost of goods…

A: Inventory turnover8 timesDays in inventory45.6 daysExplanation:Inventory TurnoverInventory Turnover…

Q: 23. Use the following financial statement information: Item Inventory Accounts Receivable Accounts…

A: An organization's operating cycle is the time it takes to purchase products, sell them, and be paid…

Q: Give me answer this question

A: Initial Inventory:October 1: 12 units at $12 eachTotal cost=12×12=$144 Purchases:October 5: 6 units…

Q: Using Average - perpetual, how much is the cost of ending inventory per unit? Using Average -…

A: Under average cost method of inventory, average cost per unit of inventory is used for calculation…

Q: Need help with this question

A: To begin, it's important to understand how sales, cost of goods sold (COGS), sales returns and…

Q: a. Compute the inventory tumover for each year using the formula Sales/Inventory. (Round your…

A: Inventory turnover ratio tells us how many times a company has sold and replenished inventory in a…

Q: The trial balance for Game Time on July 31 is as follows: Game Time Trial Balance July 31,…

A: 1. Complete worksheet for the month.

Q: Zara retailer has an inventory turnover in the amount of 2.1, it’s average inventory is 15,500…

A: Inventory turnover ratio is the ratio between the cost of goods sold and average inventory.

Q: Determine the Prior Year and Current Year trend percents for net sales using the Prior Year as the…

A: Trend analysis is the tool to analyze the financial statements. It measures the proportion of each…

Q: s the cost of goods sold? 5,387,500

A: Cost of goods sold refers to the expenses involved while the goods or services provided by the…

Q: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

Q: Oman ceramics LLC has average inventory conversion period of 72 days, average payment period of 62.5…

A: The average collection period is the time taken by the business to receive the payments from its…

Q: Sarasota Inc. had beginning inventory of $23,000 at cost and $31,000 at retail. Net purchases were…

A: Ending inventory is the resulting amount after deducting the cost of goods sold from the cost of…

Q: Net sales Cost of goods sold Beginning inventory $ 180,000 124,000 41,000

A: Introduction: Gross profit ratio: It tells the level of gross profit % earned on the Total sales of…

Q: Bolton Company has a beginning merchandise inventory of $500 and an ending merchandise inventory of…

A: Days sales in inventory is computed by dividing the average inventory by the average daily cost of…

Q: Cost 500,000.00 1,285,000.00

A: The average cost method is given as,

Q: am.303.

A: The objective of the question is to calculate the estimated cost of goods sold (COGS) using the…

Q: Provide solution for this question

A: If you have any problem let me know in comment box thankyou.

Q: Explain your answer with amounts. Days Sales Inventory Days Sales Receivables Analysis Company A…

A: Inventory is very important in the business because in business you have to satisfy immediate demand…

Q: . Bulk Wholesalers took in $378,800 in sales during July. They started the month with inventory…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: The cost of goods sold was computed at P12,250. Total sales for the year were P42,950, of which…

A: Answer -  Formula for Inventory Turnover ratio -   = Cost of goods sold /  (Beginning inventory +…

Q: 2. What is the Cost of Goods Available for Sale for the year? Beginning Inventory: $10,000 Purchase…

A: INTRODUCTION: The cost of goods sold is the sum of all costs incurred in producing a sold product or…

Q: Selected data on inventory, purchases, and sales for Celebrity Tan Co. and Ranchworks Co. are as…

A: In the given question, we are provided with inventory, purchase and sales data at both cost as well…

Q: the perpetual inventory system. At the beginning of the quarter, Monte Vista has $48,000 in…

A: Answer : Cost of good sold = Inventory in the beginning + Inventory purchased - Inventory return  -…

Q: Given the information below, what is the gross profit? Sales revenue Accounts receivable Ending…

A: Gross profit is the amount of money earned by the entity after deducting cost of goods sold from the…

Q: Using the following information, what is the amount of gross profit? Purchases $ 25,449   Selling…

A: Option d is correct

Q: Cost of Goods Sold is 60% of Sales, Purchases is P20,000, Inventory ending is P5,000 higher than…

A: The cost of goods sold includes the total cost of goods that are sold during the period.  Cost of…

Q: Revenue Gross Sales $189,000 Less: Sales Returns and Allowances 11,600 177,400 Net Sales Cost of…

A: Vertical analysis is a technique of analyzing financial statements. In this analysis, every element…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.