A company sold 500 units of its product at a selling price of $50 per unit. The COGS for the month using the FIFO method was calculated as $11,500. What is the gross profit for the month? Options: A. $12,500 B. $13,500 C. $14,000 D. $15,000
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- Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.what is the dollar sales to attain that target profit is closest to Data concerning Strite Corporation's single product appear below: Selling price per unit Variable expense per unit Fixed expense per month $ 150.00 $ 42.00 $421,200 He Assume the company's target profit is $8,000. The dollar sales to attain that target profit is closest to: (Round your i calculations to 2 decimal places.)
- Data concerning Strite Corporation's single product appear below: Selling price per unit Variable expense per unit Fixed expense per month Assume the company's target profit is $8,000. The dollar sales to attain that target profit is closest to: (Round your intermediate calculations to 2 decimal places.) Multiple Choice $1,532,857 $429,200 $596,111 $ 150.00 $ 42.00 $ 421,200 $852,723Assume a company sold 28,000 units last year and ncrease the sales commission by $2 per unit. What does this meanA 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?
- The data during the month of an enterprise who sells product M are as follows: Sale of 2,000 units at the before-VAT price of VND 300,000/unit in the domestic market. Export 500 units at FOB price of VND 310,000/ unit. Purchase 1,000 units with before-VAT price of VND 250,000/ unit. Purchase 300 units with price of VND 280,000/unit stated on the sale invoice. Deductible Input VAT for other purchased services: VND 1,000,000. VAT rate 10%. Exported goods are supported with sufficient documents as prescribed by law The VAT amount payable is * VND 41,100,000 VND 25,600,000 VND 49,500,000 VND 34,000,000The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P25,000. What is the investment in accounts receivable? choose the letter of the correct answera. P8,000.00b. P9,000.00c. P19,000.00d. P29,000.00e. P39,000.00A retailer ordered merchandise totaling $128,115.23 with terms 3.5%/10 net 40. What is the effective rate of return? Assume there are 365 days in a year.
- The cost of product X is 30 percent of its selling price, and the carrying cost is 8 percent of selling price. Accounts are paid on average 60 days after sale. Sales per month average P35,000. What is the investment in accounts receivable? CHOOSE THE ANSWERA. P600.00B. P6,600.00C. P19,000.00D. P16,600.00E. P26,600.00A business usually has a mark-up of 20% on cost of sales. During a year, its sales were $90,000. What was cost of sales? A $15,000 B $72,000 C $18,000 D $75,000Blake Distributors had a beginning inventory for June of $100,000. They purchased $25,000 in goods during the month. Their income from sales was $200,000 with $10,000 in returns. Their ending inventory was $30,000. Their operating expenses were $50,000. What was the net sales? What was the gross profit?
