Check out some similar questions!
Calculate cost of goods sold, ending inventory, & gross profit for LIFO, FIFO &
[ 1 Answers ]
Hello, I have tried this example several times but do not seem to get the correct answer . I would appreciate your help with this one. Thanks: Twin Co. is a retailer operating which uses the perpetual inventory method. All sales returns from customers result in the goods being returned to...
Cost of goods distroyed using Gross Profit Method
[ 1 Answers ]
(Gross Profit Method) Zidek Corp. requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $38,000. Purchases since January 1 were $92,000; freight-in, $3,400; purchase returns and allowances, $2,400. Sales are made at 33⅓% above cost and totaled...
An item that cost $90 is sold for $120. The gross profit ratio for this item is?
[ 2 Answers ]
an item that cost $90 is sold for $120... the gross profit ratio for this item is? I understand that GP = revenue - cost of goods sold
Cost of goods sold and gross profit
[ 1 Answers ]
Need help computing cost of goods sold and gross profit under FIFO, LIFO, Average cost. Beginning inventory 20 rolls @ $200, Purchase 8 rolls @ 300, Sale 15 rolls @ 500. View more questions Search
Add your answer here.
|