Analysis Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during both February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change is favoral or unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decimal pleces.) Gross profit ratio
Analysis Component: The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during both February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change is favoral or unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decimal pleces.) Gross profit ratio
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Only 4b thanks!
Transcribed Image Text:Telamark Company uses the moving welghted average method for Inventory costing.
Required:
The following Incomplete inventory sheet regarding Product W506 Is avallable for the month of March 2020. Complete the Inventory
sheet. (Use the value of the ending Inventory as your base number and adjust the COGS $ amount to the required amount to
make the Total Goods Avallable for Sale to the total of the Value of the ending Inventory and the COGS total. Negative value
should be indicated with minus sign. Round your Intermedilate and final answers to 2 decimal places.)
Purchases/Transportation-In/
(PurchaseReturns/Discounts)
Cost of Goods Sold/(Returns to
Inventory)
Balance in Inventory
Avg
Cost/Unit
Date
Units
Cost/Unit
Total S
Units Cost/Unit
Total $
Units
Total S
Mar. 1
Brought Forward
5.640.00
60
94.00
2
35
96.00
3
22
4
(2)
7
65
17
40
97.00
28
43
Totals
Ending Inventory
Goods Available for Sale
Goods Sold
Transcribed Image Text:Note: March 4 reflects a return made by a customer of Incorrect items shipped on March 3; these items were returned to
Inventory.
Analysis Component:
The gross profit realized on the sale of Product W506 during February 2020 was 36.16%. The selling price was $148 during both
February and March. Calculate the gross profit ratio for Product W506 for March 2020 and determine whether the change Is favorable
or unfavorable from February. (Round your Intermedlate calculations and final answer to 2 decimal places.)
Gross profit ratio
%
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