A retail store had sales of $235,000 and cost of goods sold of $141,000. What is its gross profit?
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000What is the gross profit on these general accounting question?What is the net sales amount?
- Candy Company had sales is $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit of sales)?Brown Glory Corp. has sales revenue of $150,000, sales discounts of $12,000, sales returns allowances of $24,000, and cost of goods sold of $60,000. What would be the net sales revenue of Brown Glory Corp.?Need Help please provide
- During the current year, merchandise is sold for $775,000. The cost of the merchandise sold is $426,250. a. What is the amount of the gross profile? b. Compute the gross profile percentage (gross profile divided by sales). c. Will the income statement necessarily report a net income? Explain.Cupery Co. has net sales of $105,000, cost of goods sold of $70,000, and operating expenses of $20,000. What is its gross profit and its gross profit rate?1)Brown Glory Corp. has sales revenue of $150,000, sales discounts of $12,000, sales returns allowances of $24,000, and cost of goods sold of $60,000. What would be the net sales revenue of Brown Glory Corp.?