Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. 1. Cost: $23.75 2. Selling Price: $29.50. Accounting
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Assume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. 1. Cost: $23.75 2. Selling Price: $29.50. Accounting
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- Assume that mark up is based on cost... Please answer the accounting questionSolve this problemAssume that markup is based on cost. Find the dollar markup and percent markup on cost for the following. Note: Round your "Dollar markup" answer to the nearest cent and "Percent markup on cost" to the nearest hundredth percent. Cost 16.40 Selling price 24.60 Dollar markup Percent markup on cost %
- Accounting QuestionAssume markup percentage equals desired profit divided by total costs. What is the correct calculation to determine the dollar amount of the markup per unit? Select one: a. Total cost per unit times markup percentage per unit. b. Total cost per unit divided by markup percentage per unit. c. Total cost times markup percentage. d. Markup percentage divided by total cost. e. Markup percentage per unit divided by total cost per unit.General accounting
- You have the following information for Metlock, Inc. for the month ended October 31, 2022. Metlock uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $22 Oct. 9 Purchase 140 24 Oct. 11 Sale 100 40 Oct. 17 Purchase 100 25 Oct. 22 Sale 65 45 Oct. 25 Purchase 75 27 Oct. 29 Sale 110 458. The difference between total sales in dollars and total cost of goods sold is called: A. net operating income. B. net profit. C. the gross margin. D. the contribution margin.You have the following information for Sheridan Inc. for the month ended October 31, 2022. Sheridan uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 60 $26 Oct. 9 Purchase 119 Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale ཙ སྟྲ ྴ 。 9 94 102 59 67 110 ཤྰ གླ ཉ མི རྒྱུ ཚ ཙ 28 36 41 41 Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit $ 28.526 Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to O decimal places, e.g. 5,125.) The ending inventory $ The cost of goods sold $ Gross profit LIFO $ $ FIFO AVERAGE-COST $ $ $ $ $