Cheyenne Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 148 tents. This consists of 50 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $227 each. During April, the company had the following purchases and sales of tents:
Cheyenne Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 148 tents. This consists of 50 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $227 each. During April, the company had the following purchases and sales of tents:
Chapter1: Financial Statements And Business Decisions
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
Transcribed Image Text:Cheyenne Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 148 tents. This
consists of 50 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $227 each. During
April, the company had the following purchases and sales of tents:
Date
Apr. 3
10
17
24
30
Purchases
Units Unit Cost
196
294
$276
289
Units
76
251
204
Sales
Unit Price
$418
418
418

Transcribed Image Text:Calculate Cheyenne Outdoors's gross profit and gross profit margin for the month of April. (Round gross profit margin to 1
decimal place, e.g. 1.2 and gross profit to the nearest whole dollar, e.g. 5,275.)
Gross profit
Gross profit margin
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