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Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 510 bookcases at a cost of $130 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units Unit Cost Units 1.240 1,790 1,020 $132 133 134 960 1,680 Sales Unit Price $191 196

Ayayai Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 510 bookcases at a cost of $130 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units Unit Cost Units 1.240 1,790 1,020 $132 133 134 960 1,680 Sales Unit Price $191 196

FINANCIAL ACCOUNTING
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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Ayayai Furniture Ltd, uses a perpetual inventory system and has a beginning inventory, as at June 1, of 510 bookcases at a cost of $130 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units 1,240 1,790 1,020 Unit Cost Units. $132 133 134 960 1,680 Sales Unit Price $191 196
Transcribed Image Text:Ayayai Furniture Ltd, uses a perpetual inventory system and has a beginning inventory, as at June 1, of 510 bookcases at a cost of $130 each. During June, the company had the following purchases and sales of bookcases: Date June 6 10 14 16 26 Purchases Units 1,240 1,790 1,020 Unit Cost Units. $132 133 134 960 1,680 Sales Unit Price $191 196
Calculate Ayayai Furniture's gross profit and gross profit margin for the month of June. (Round gross profit margin to 1 decimal place, e.g. 15.1% and gross profit to 0 decimal places, e.g. 5,275.) Gross profit Gross profit margin %
Transcribed Image Text:Calculate Ayayai Furniture's gross profit and gross profit margin for the month of June. (Round gross profit margin to 1 decimal place, e.g. 15.1% and gross profit to 0 decimal places, e.g. 5,275.) Gross profit Gross profit margin %
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