DEF Inc. had the following information for August: • Sales revenue = $50,000 Merchandising, Selling & administrative expenses = $5,000 Merchandise on July 31 = $500 ● Purchases in August = $22,000 • Merchandise on August 31 = $900 • Units sold = 2,000 ● ● Q1: What is the firm's COGS for the month? Q2: What is the firm's gross profit for the month? Q3: What is the firm's operating income for the month?. Q4: What is the firm's cost per unit sold for the month?.

DEF Inc. had the following information for August: • Sales revenue = $50,000 Merchandising, Selling & administrative expenses = $5,000 Merchandise on July 31 = $500 ● Purchases in August = $22,000 • Merchandise on August 31 = $900 • Units sold = 2,000 ● ● Q1: What is the firm's COGS for the month? Q2: What is the firm's gross profit for the month? Q3: What is the firm's operating income for the month?. Q4: What is the firm's cost per unit sold for the month?.

Name: Practice Problem 2:DEF Merchandising, Inc. had the following informat
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Description: Practice Problem 2:DEF Merchandising, Inc. had the following information for August:• Sales revenue = $50,000Selling & administrative expenses = $5,000• Merchandise on July 31 = $500Purchases in August = $22,000Merchandise on August 31 = $900Units s

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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