Answer in step by step with explanation.Don't use Ai. Assume you are using net sales as the base in vertical analysis. Cost of goods sold in 2019 is 67%, andis 70% in 2020. This would always indicate that:cost of goods sold as a percentage of net sales has increasedthe dollar amount of cost of goods sold has increasedgross margin has declined in terms of dollarsgross margin has declined, cost of goods sold as a percentage of net sales has increased, and the dollaramount of cost of goods sold has increased

Explanation:Cost of Goods Sold Percentage:In 2019, COGS is 67% of net sales.In 2020, COGS increases…

Answered: Assume you are using net sales as the…

Principles of Accounting Volume 1

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ISBN:9781947172685

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Chapter10: Inventory

Section: Chapter Questions

Problem 2MC: If a company has three lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle)...

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A company has the following items for the fiscal year 2020: Revenue =10 million Cost of goods sold = 3 million EBITDA = 5 million EBIT = 4 million Net income = 2 million Calculate the company’s net profit margin Write the formula for the following ratios and what each ratio measures: Current Ratio Quick Ratio
For 2021, Hamilton Company had Sales of $5,700,000 and Cost of Goods Sold of $3,600,000. For 2020, Hamilton Company had Sales of $4,800,000 and Cost of Goods Sold of $2,900,000. a. What was the Cost of Goods Sold as a percent of Sales for 2021? b. What was the Cost of Goods Sold as a percent of Sales for 2020? c. Did Hamilton show improvement from 2020 to 2021? d. Is this an example of horizontal or vertical analysis?
Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). > Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02) % Operating Expenses 789,795 570,245 38.50 % Operating Income 7,997 244,207 2,953.73% Net Income 14,553 191,960 (92.42) %
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If a company has three lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for $15, purchase 3 (latest) for $12, which of the following statements is true? A. This is an inflationary cost pattern. B. This is a deflationary cost pattern. C. The next purchase will cost less than $12. D. None of these statements can be verified.
If the annual cost of goods sold is $30,000,000 and the average inventory is$5,000,000,a. What is the inventory turns ratio?b. What would be the reduction in average inventory if, through better materialsmanagement, inventory turns were increased to 10 times per year?c. If the cost of carrying inventory is 25% of the average inventory, what is the annual savings?
Please see this empty income statement from Spuds and Suds for FY 2020. Calculate the degree of financial leverage if price per units is 15.00. Please give your answer rounded to two decimal places. Your Answer:
Perform a vertical analysis of the P&L (FS Company). "Formula: Vertical Analysis % - Each income statement items / Revenues (or Net sales) Fill in each Blank. Round your answers to the nearest tenth percent, i.e. 4.5%. PLEASE SUBMIT YOUR ANSWERS IN % and include the % symbol. Do not leave any blank. If the answer is 0, be sure to put 0. Cost of goods sold Gross profit Net sales $858,000 Select] Other expenses Interest revenue Income from operations Interest expense 2018 Income before income taxes Income tax expense Net income 513,000 345,000 244,000 101,000 4,000 24,000 81,000 33,000 FS Company Comparative P&L statement Years Ended December 31, 2018 and 2017 48,000 % of sales Select J [Select] | Select | [Select] [Select] [Select] [ Select] Select] Select > >
Compute trend percents for the following accounts using 2020 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favourable or unfavourable Sales Cost of goods sold Accounts receivable 2024: 2023: 2022: Numerator 2021: 2020: Is the trend perc for Net Sales Numerator: 2024 $ 569,653 298,670 27,514 Numerator: 7 Trend Percent for Net Sales: 1/ V IM 2023 $367,518 192,609 21,426 able or unfavourable? W 2022 $ 290,528 154,575 19,843 Trend Percent for Cost of Goods Sold: Denominator: 7 A Denominator: 2024: 2023: BALLER 2022: 2021: 2020: Is the trend percent for Cost of Goods Sold favourable or unfavourable? Trend Percent for Accounts Receivable: Denominator: 2024: 2023: 2022: 2021: 2020: is the trend percent for Accounts Receivable favourable or unfavourable? $ 197,638 103,972 11,522 TA E L i E 13 B 17 B 13 E # F F 2020 $ 148,600 77,272 10,164 Trend percent Trend percent Trend percent 88888 % % % % %
Based on the following data below: In 2019: Total Sales= 1.5 billion with the Motor Category representing 18% of total sales Projected 2029: Total Sales= 3.75 billion with the Motor Catgory representing 24% of total sales What is the ratio of the revenue of sale in the Motors Category in 2019 to the projected revenue of sales in Motors in 2029? The answer is 3:10, however I am not sure how that is concluded. Thanks!
Sales are $2.6 million in 2020, $2.7 million in 2021, and $2.5 million in 2022. What is the percentage change from 2020 to 2021? What is the percentage change from 2021 to 2022? Be sure to indicate whether the percentage change is an increase or a decrease.
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