37389 190 Given the following information, calculate the maintained markup %:Cost-1Retail$69,600.00 $145,000.00$75,000.00$15,000.002opening inventorygross purchases$36,000.00$7,200.00$2,000.00returns to vendorsfreight$100,400.00 $205,000.00 CMU =$80,000.00 cost % =$12,000.00$2,000.00total merch handlednet salesnet markdownsemployee discountstotal retail deductionsclosing book inventorygross cost of merch soldalterations costs$3,000.00cash discounts$5,500.00net cost of merch soldmaintained markup $maintained markup %

Introduction:- The markup on items supplied to consumers, or the difference between the cost of…

8 9 19 0 Given the following information, calculate the maintained markup %: Cost 1 Retail $69,600.00 $145,000.00 $36,000.00 $75,000.00 $7,200.00 opening inventory gross purchases returns to vendors $15,000.00 $2,000.00 $100,400.00 $205,000.00 CMU = freight total merch handled net sales $80,000.00 cost % = net markdowns $12,000.00 employee discounts total retail deductions $2,000.00 closing book inventory gross cost of merch sold alterations costs $3,000.00 $5,500.00 cash discounts net cost of merch sold maintained markup $ maintained markup %

8 9 19 0 Given the following information, calculate the maintained markup %: Cost 1 Retail $69,600.00 $145,000.00 $36,000.00 $75,000.00 $7,200.00 opening inventory gross purchases returns to vendors $15,000.00 $2,000.00 $100,400.00 $205,000.00 CMU = freight total merch handled net sales $80,000.00 cost % = net markdowns $12,000.00 employee discounts total retail deductions $2,000.00 closing book inventory gross cost of merch sold alterations costs $3,000.00 $5,500.00 cash discounts net cost of merch sold maintained markup $ maintained markup %

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 4C

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16. Given the following information, calculate the gross margin %: Cost $144,900.00 $345,000.00 Retail opening inventory gross purchases $101,200.00 $220,000.00 returns to vendors $11,500.00 $25,000.00 $2,000.00 freight additional markup $3,000.00 $2,000.00 CMU = net transfers out $9,200.00 %3D total merch handled cost % = net sales $275,000.00 markdowns $35,000.00 markdown cancellations $5,000.00 employee discounts $3,000.00 total retail deductions closing book inventory gross cost of merch sold $2,500.00 $6,000.00 alterations costs cash discounts net cost of merch sold gross margin $ gross margin %
GB SalesRevenue 16800 Purchases 12800 Gross Profit 4000 Selling Expenses 2000 Admin Cost 7200 Operating Loss 5200 b) Calculate mark-up (in percentage to 2 decimal places) c) Calculate the margin as a % to 1 decimal place d) What is the operating profit margin percentage if the admin cost is reduced by 60%? Show this to 1 decimal place e) Define the following and provide respective examples with numeric calculations where possible: Trade discountBulk discountEarly settlement discount f) If a company has a mark-up of 37% and sales revenue of £163,970, then what is the cost of sales in whole £’s? g) If a company has a net margin of 15%, gross margin of 35% and costs of sale of £25,000, then what is the sales revenue and overhead?
please do not provide solution in image format thank you!
Suppose have The Following infarmasion you Cost Per unit units Po tar Beguing inventory 200 lo Purchases s 5600 14 Feb. 15 400 b,800 17 Jan. 2 400 9000 18 sep. 12 5.. 155 0s 21 Dec. 2 48,000 1,600 30 Sales 12,000 30 400 oPerah ng exp * Prepare Compar tive income statment under [ fi Fog Lifo, weighted average I A ssume company is subject that the to 30% income tax rare
Cost 5484,000 1,750,000 Retail $500,000 3.450,000 160,000 Markup cancellations 65,000 Markdowns 49,000 Markdown 10,000 cancellations Sales Sales discount 3.320,000 140,000 Required: Tompute the ending inventory at retail and at cost by the conventional retail Inventory method (Show your calculations,
Choices: P6,550,000 P6,600,000 P6,350,000 P6,650,000
20. Company sold inventory fo $300,000 terms 2/10, n/30. Cost of goods sold was $152,000, How much sales revenue will they report form the sale assuming the company records the net amount?
Answer: 5,250,000 Please help me with the solutions. Thank you.
Presented below is information related to Bobby Engram Company. 00Cost00 0 Retail0 Beginning inventory $058,000 $100,000 Purchases (net) 122,000 200,000 Net markups 10,345 Net markdowns 26,135 Sales revenue 186,000 Instructions a. Compute the ending inventory at retail. b. Compute a cost-to-retail percentage (round to two decimals) under the following conditions. 1. Excluding both markups and markdowns. 2. Excluding markups but including markdowns. 3. Excluding markdowns but including markups. 4. Including both markdowns and markups. c. Which of the methods in (b) above (1, 2, 3, or 4) does the following? 1. Provides the most conservative estimate of ending inventory. 2. Provides an approximation of lower-of-cost-or-market. 3. Is used in the conventional retail method. d. Compute ending inventory at lower-of-cost-or-market (round to nearest dollar). e. Compute cost of goods sold based on (d). f. Compute…
4. The markup percent is based on cost. Compute the missing terms. Dollar Markup Cost $2,240 Markup Percent 125% a. Dollar Markup: $560; Selling Price: $2800 b. Dollar Markup: $2640; Selling Price: $4880 C. Dollar Markup: $2,000; Selling Price: $4240 d. Dollar Markup: $2,800; Selling Price: $5,040 Selling Price
The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000
Ivanhoe Corporation's computation of cost of goods sold is: Beginning inventory $64200 Add: Cost of goods purchased 540000 604200 Cost of goods available for sale 93000 Less: Ending inventory $511200 Cost of goods sold The average days to sell inventory for Ivanhoe are (Hint: Round intermediate calculation and final answer to 1 decimal place, eg O.6.) O 45.8 days. O 47.5 days. O 66.4 days. O 562 days.