2015 2016 Sales Revenue 105,000 Sales Returns 4,000 6,000 Inventory, Beg 21,000 Purchases 63,000 Purchase Discounts 5000 3,000 Freight In 3,500 8,000 Inventory, Ending ? 34,000 COGS 55,000 ? Gross Profit 29,000 43,500

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A: Cost of goods sold = Net sales - Gross profit = $27,000 - $27,000*40% = $16,200

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Q: Net sales revenue $280,000 Cost of goods sold 120,000 Beginning inventory 5,000 Ending…

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Q: Cost of goods sold Beginning inventory Ending inventory $722,000 53,000 67,000

A: Formula: Inventory turnover ratio = Cost of goods sold / Average Inventory

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Q: QUESTION 14: You are given the following information about LM Company: Beginning inventory $210,000…

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A: Particulars Cost Retail Beginning inventory $20,000 $35,000 Purchases  100,000 168,000 Goods…

Q: Cost Retail Inventory, 12/31/25 $254,700 $397,600 Purchases 1,002,796 1,454,100 Purchase returns…

A: The conventional retail inventory method is used by companies to determine the value of ending…