Customer returns and allowances for department #620 came to $5,500. Gross sales in the department were $95,000. What percentage of merchandise sold was returned? Write answer to two decimal places with the % symbol, example 6.23%
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- The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and purchases of P 18,200.00. Ending inventory is amounting to P 12,500.50. The stores total expenses is P 18,780.00. Find the following: a.) Cost of goods soldDuring the current year, merchandise is sold for $$59,180 cash and for $86,380 on account. The cost of the goods sold is $94,610. What is the amount of the gross profit? Previous Next Email Instruct %24The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and purchases of P 18,200.00. Ending inventory is amounting to P 12,500.50. The stores total expenses is P 18,780.00 . Find the following : a.) Cost of goods sold b) Net profit or net loss
- Determining gross profit During the current year, merchandise is sold for $8,780,000. The cost of the goods sold is $5,531,400. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. What is the amount of the gross profit? Round your answer to the nearest dollar. b. Compute the gross profit percentage (gross profit divided by sales). Round your answer to the nearest whole number. C. Will the income statement always report a operating incomne? Yes No Previous earch 542 PM 5/3/2021Question: The cost of goods sold as a percentage of net sales revenue is (round your answer to two decimal places). Sales Revenue $420,000 Sales Returns and Allowances 1,400 Sales Discounts Net Sales Revenue Cost of Good Sold a) 62.45% b) 62.58% c) 61.90% d) 62.24% 850 417,750 260,000Based on the information that follows: Sales $86,900 Sales Returns and Allowances 2,200 Sales Discounts 1,738 Required: Prepare the revenue section of a multiple-step income statement.
- f. The adjustment for customer returns and allowances is $60,000 for sales and $35,000 for cost of goods sold. how would I journalize this?Gros s marging The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820.If gross sales for the shoe department for spring were $2,675,000 and the returns in dollars were $1,284,000, what are the net sales? Write answer to two decimal places with the $ symbol, example $6,00d23