1) calculate sales built (% change) as compared to last year, 2) Calculate gross margin % for this year . 3) Suggest different ways to increase sales for future period (**review last part of the chapter and lecture video (P&L statement end) for ideas) Provide answers to the three tasks above. Gross Sales customer returns Net Sales This year $ 150,000.00 $ last year 143.500.00 % $ $6,500.00 4%$ 4,700.00 $ 165,000.00 $160,300.00 %

1) calculate sales built (% change) as compared to last year, 2) Calculate gross margin % for this year . 3) Suggest different ways to increase sales for future period (**review last part of the chapter and lecture video (P&L statement end) for ideas) Provide answers to the three tasks above. Gross Sales customer returns Net Sales This year $ 150,000.00 $ last year 143.500.00 % $ $6,500.00 4%$ 4,700.00 $ 165,000.00 $160,300.00 %

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Revise your worksheet to reflect these updated assumptions and then answer the questions that follow. Sales Sale Price 9,400 units 27 Date Number of Units Unit Cost Total Cost Beginning 1,500 10.30 $15,450 March 12 2,700 10.20 27,540 June 5 1,400 10.10 14,140 October 22 5,300 9.90 52,470 Totals 10,900 $109,600 Required: 1. Use your spreadsheet to recalculate the Cost of Goods Sold, Inventory balances, and Gross Profit under each method and enter your results below: (Round your answers to the nearest whole dollar amount.). FIFO LIFO Weighted Average Cost of Goods Sold Ending Inventory Gross Profit < Prev ♡ 14 of 14 Next
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