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Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Date Apr. 3 10 17 24 30 Purchases Units 193 285 Unit Cost $277 291 Units 72 263 203 Sales Unit Price $380 380 380

Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Date Apr. 3 10 17 24 30 Purchases Units 193 285 Unit Cost $277 291 Units 72 263 203 Sales Unit Price $380 380 380

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Date Apr. 3 10 17 24 30 Purchases Units Unit Cost 193 285 $277 291 Units 72 263 203 Sales Unit Price $380 380 380
Transcribed Image Text:Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Date Apr. 3 10 17 24 30 Purchases Units Unit Cost 193 285 $277 291 Units 72 263 203 Sales Unit Price $380 380 380
Calculate Culver 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 $ %
Transcribed Image Text:Calculate Culver 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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