Answered: Bluesy Electronics recorded the…

Bluesy Electronics recorded the following financial data: Net Sales $720,500 Average Inventory at Cost = $80,200 Gross Margin Percentage = 42% Calculate the GMROI.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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Question

Bluesy Electronics recorded the following financial data please answer the financial accounting question

Bluesy Electronics recorded the following
financial data:
Net Sales $720,500
Average Inventory at Cost = $80,200
Gross Margin Percentage = 42%
Calculate the GMROI.

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