The Happy Auto Shop has the following annual information: gross sales,$700,000; net sales, $696,000; and gross profit, $448,000. What are theshop’s returns and allowances and cost of goods sold?

Sellall Department Stores reported the following amounts as of its December 31 year-end: Administrative Expenses, $2,400; Cost of Goods Sold, $22,728; Income Tax Expense, $3,000; Interest Expense, $1,600; Interest Revenue, $200; General Expenses, $2,600; Net Sales, $37,880; and Delivery (freight-out) Expense, $300. Required: 1. Calculate the gross profit percentage.   2. How has Sellall performed, relative to the 24.5 percent gross profit percentage reported for Walmart in 2019? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)check all that apply Sellall Department Stores earned a higher gross profit percentage than Walmart. Walmart earned a higher gross profit percentage than Sellall Department Stores. Sellall includes more mark-up in the prices it charges customers than Walmart. Walmart includes more mark-up in prices it…

Gross Profit During the current year, merchandise is sold for $140,400 cash and $588,600 on account. The cost of the goods sold is $539,500. What is the amount of the gross profit?$

During the current year, merchandise is sold for $43000 cash and for $307000 on account. The cost of merchandise sold is $82000. What is the amount of gross profit?

For the fiscal year, sales were $7280000, sales discounts were $100000, sales returns and allowances were $30000, and the cost of merchandise sold was $4330000. What was the amount of gross profit

During the current year, merchandise is sold for $173,900 cash and $467,700 on account. The cost of the goods sold is $397,800. What is the amount of the gross profit?$fill in the blank 1

Joana's Boutique incur the following amounts for the month of November 2020. Compute for the income statement to determine whether profit or loss given the following information: Sales - 500,00 Cost of Goods Sold - 24,000 Operating Expenses - 12,000

Mario's Home Systems has sales of $2,860, costs of goods sold of $2,200, inventory of $512, and accounts receivable of $434. How many days, on average, does it take Mario's to sell its inventory?

Blake distributors had a beginning inventory for June of 100,000. They purchased 25,000 in goods during the month.  Their income from sales was 200,000 with 10,000 in returns. Their ending inventory was 30,000. Their operating expenses were 50,000.  What was the amount of goods available for sale during June? What was the cost of goods sold? What was the net sales? What was the gross profit? Was there an excess or a deficit? What was the net profit or net loss?

During the current year, merchandise is sold for $925000. The Gross Profit is $411000. What is the amount of the Cost of Merchandise Sold? Add your answer