A company sells inventory for $15,000 that cost $10,000. Freight costs are $600. Calculate the gross margin.
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- 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?
- A company wishes to establish an EOQ for an item for which the annual demandis $800,000, the ordering cost is $32, and the cost of carrying inventory is 20%.Calculate the following:a. The EOQ in dollars.b. Number of orders per year.c. Cost of ordering, cost of carrying inventory, and total cost.d. How do the costs of carrying inventory compare with the costs of ordering?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. $585,000