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18.1.27 Question Help * Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 40% gross profit is realized on sales and net sales are $115,230. Units Cost per Total Retail price Total retail $36,120 5985 value $41,370 $35,400 $2,105 $42,100 $17,550 $1,996 ETUTI $975 Date of purchase Beginning inventory February 5 February 19 March 3 purchased unit cost per unit 42 $860 20 $1,770 18 26 $470 Goods available for sale 106 25 Units sold Ending inventory The estimated cost of goods sold is $ $12,220 $600 $35,928 $15,600 $134,998

18.1.27 Question Help * Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 40% gross profit is realized on sales and net sales are $115,230. Units Cost per Total Retail price Total retail $36,120 5985 value $41,370 $35,400 $2,105 $42,100 $17,550 $1,996 ETUTI $975 Date of purchase Beginning inventory February 5 February 19 March 3 purchased unit cost per unit 42 $860 20 $1,770 18 26 $470 Goods available for sale 106 25 Units sold Ending inventory The estimated cost of goods sold is $ $12,220 $600 $35,928 $15,600 $134,998

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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18.1.27 Question Help * Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 40% gross profit is realized on sales and net sales are $115,230. Units Cost per Total Retail price Total retail $36,120 5985 value $41,370 $35,400 $2,105 $42,100 $17,550 $1,996 ETUTI $975 Date of purchase Beginning inventory February 5 February 19 March 3 purchased unit cost per unit 42 $860 20 $1,770 18 26 $470 Goods available for sale 106 25 Units sold Ending inventory The estimated cost of goods sold is $ $12,220 $600 $35,928 $15,600 $134,998
Transcribed Image Text:18.1.27 Question Help * Use the inventory table and the gross profit inventory method to estimate the ending inventory and cost of goods sold if a 40% gross profit is realized on sales and net sales are $115,230. Units Cost per Total Retail price Total retail $36,120 5985 value $41,370 $35,400 $2,105 $42,100 $17,550 $1,996 ETUTI $975 Date of purchase Beginning inventory February 5 February 19 March 3 purchased unit cost per unit 42 $860 20 $1,770 18 26 $470 Goods available for sale 106 25 Units sold Ending inventory The estimated cost of goods sold is $ $12,220 $600 $35,928 $15,600 $134,998
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