A retailer buys an item for $75 and sells it for $95. What is the gross profit for this item? a. $20 b. negative $20 c. $95 d. There is insufficient information to calculate the gross profit
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- Please Fill The Blank in tableGIVE PROPER EXPLANATION OF COST OF GOODS AND GROSS MARGIN. YOU MADE A SALE FOR $588,000. THE CUSTOMER PAID IN CASH. YOUR GROSS MARGIN IS 61%. WHAT IS YOUR COST OF GOODS SOLD?From the following, calculate net sales: - - = Net sales - - = Data Table Cost of Goods Sold $95 Gross Sales 184 Sales Returns and Allowances 18 Sales Discounts 18 Operating Expenses 47
- Financial information is presented below: Operating expenses Sales returns and allowances 3000 Sales discounts Sales revenue Cost of goods sold The gross profit rate would be 0.40. 0.60. 0.44. $ 45000 0.38. 8000 180000 101000If net sales is $373,000 and cost of goods sold is $223,800, what is the gross profit and gross margin percentage? Please avoid image based answers thank youAn item of inventory was purchased for $10. However, due to a fall in demand, its selling price will be only $8. In addition further costs will be incurred prior to sale of $1. What is the net realisable value? A $7 B $8 C $10 D $11
- give short and simple answerSmmons. Inc. uses the lower-of-cont-ormarket method to value s inventory that is accounted for using the FIFO method. Data regarding an tam in its inventory ls as follows Cost $26 Replacement cost 20 Selling price 30 Cost of completion and disposal 2 Normal profit margin 7. What is the lower-of-cost-or-mariket for this item?please answer do not image format