Inventory Turnover & GMROI 1) The dress department had the following performance last year. Net sales were $150,000.Average inventory was $28,000 at retail.Cumulative markup was 48%.Gross margin was 42%. A. What is the GMROI?B. Interpret the GMROI figure in words:C. What is the TO?D. Interpret the TO figure in words:

GMROI is the gross margin return on investment. This is usually used in retail industry. This is…

Answered: A. What is the GMROI? B. Interpret the…

Business

Accounting

A. What is the GMROI? B. Interpret the GMROI figure in words: C. What is the TO? D. Interpret the TO figure in words:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Blake 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 amount of goods available for sale during June? What was the cost of goods sold? What was the net sales? What was the gross profit? Was there an excess or a deficit? What was the net profit or net loss?
Please help me with show all calculation thanku
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Landis Company is preparing its financial statements. Gross margin is normally 40% of sales. Information taken from the company's records revealed sales of $60,000; beginning inventory of $6,000 and purchases of $42,000. What is the estimated amount of ending inventory at the end of the period? Multiple Choice O O O $19,200 $36,000 $12,000 $24,000
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