Company X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X? Accurate Answer
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Company X sets price equal to cost plus 60%. Recently, Company X charged a customer a price of $42 for an item. What was the cost of the item to Company X? Accurate Answer
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- What was the cost of the item to company X?Assume that mark up is based on cost... Please answer the accounting questionYou have the following information for Kingbird Diamonds. Kingbird Diamonds uses the periodic method of accounting for its inventory transactions. Kingbird only carries one brand and size of diamonds-all are identical. Each batch of diamonds purchased is carefully coded and marked with its purchase cost. March 1 March 3 March 5 March 10 March 25 Beginning inventory 180 diamonds at a cost of €368 per diamond. Purchased 240 diamonds at a cost of €420 each. Sold 224 diamonds for €720 each. Purchased 420 diamonds at a cost of €464 each. Sold 480 diamonds for €780 each.
- GIVE PROPER EXPLANATION OF COST OF GOODS AND GROSS MARGIN. YOU MADE A SALE FOR $588,000. THE CUSTOMER PAID IN CASH. YOUR GROSS MARGIN IS 61%. WHAT IS YOUR COST OF GOODS SOLD?The rate of markup on cost on a product selling at $66.45 is 41%. a. What is the cost of the product to the retailer? Round to the nearest cent b. What is the rate of markup on selling price? % Round to two decimal placesI want to correct answer general accounting question