A company sells inventory for $15,000 that cost $10,000. Freight costs are $600. Calculate the gross margin.
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- Smith company sold inventory that cost $5000 for $9000 cash. Freight cost was $600 paid in cash.The Freight term was FOB destination. Based on this information, what would the net income/ gross margin be?Boston Company sells ten items for $1,100 per unit and has a cost of goods sold per unit of $660. The gross profit to be reported for sellling 10 items is? A. $4,400. B. $11,000. C. $440. D. $6,600.Calculate the cost of goods sold
- Provide correct answer general accountingCompany XYZ has the following information: Beginning Inventory: $20,000 Purchases: $50,000 Ending Inventory: $15,000 Sales Revenue: $100,000 Cost of Goods Sold: $60,000 Calculate the Gross Profit for Company XYZBrad Gravel Pitt Company has sales of $495,000 and cost of goods sold of $302,000. Selling and administrative costs are $100,000. Taxes are $40,000. a. What is the Choose.. gross profit?
- Given the following information regarding to a recent period's operations: Sales - P? Beginning finished goods inventory - P12,000 Cost of goods manufactured - P36,000 Ending finished goods inventory - P6,000 Cost of goods sold - P? Gross margin - 40% of Sales Administrative and selling expenses_P10,000 Net operating income - P? Determine the following: • cost of goods sold • cost of goods available for sale • net operating income • gross margin • salesWhat is the gross profit on these general accounting question?If net sales are $300,000, cost of goods available for sale is $280,000, and gross profit percentageis 35%, what is the amount of ending inventory?
- Given the information above, gross margin is? Given the information above, and assuming that Lindsey's total operating expenses (exclusive of the cost of goods sold) are $40,000, pretax income is?Calculate the cost of goods sold when beginning finished goods inventory equals $70,000, ending finished goods inventory is $85,000, and cost of goods manufactured is $600,000. a. $615,000 b. $445,000 c. $685,000 d. $585,000If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.