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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- Finsncial account solution needo determine the sales tax (in $) and calculate the total purchase price (in $) for the item. (Round your answers to the nearest cent.) Use Selling Sales Total Item Price Таx Purchase Price Candy bar $0.69 $4 2$1. Calculate the missing information for the purchase. Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax TotalPurchase Price(in $) Sofa $350.00 5 $ 0 0 $
- 1.Calculate the missing information for the purchase. (Round your answers to the nearest cent.) Item SellingPrice SalesTaxRate SalesTax(in $) ExciseTax Rate ExciseTax(in $) TotalPurchase Price(in $) Tire $106.99 6 $ 5 $ $What is your cost of goods sold?Using the following data, how should the merchandise be valued under lower of cost or market?Original cost $1,350Estimated selling price 1,475Selling expenses 180
- Sub. AccountConsider the following incomplete table of a merchandiser's profit data. Calculate the missing amounts to complete the table. (Click the icon to view the data.) Sales $ 90,000 $ 104,000 $ 65,600 Sales Returns and Allowances 920 1,610 840 Sales Discounts 630 800 470 2,060 Net Sales 88,450 99,700 Cost of Goods Sold 60,700 40,600 76,800 Gross Profit 34,000 34,900GIVE 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 47Financial 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 you