During the current year, merchandise is sold for $775,000. The cost of the merchandise sold is $426,250. a. What is the amount of the gross profile? b. Compute the gross profile percentage (gross profile divided by sales). c. Will the income statement necessarily report a net income? Explain.

The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000

Compute Westtown Companys (A) inventory turnover ratio and (B) number of days sales in inventory ratio, using the following information.

Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.

During the current year, merchandise is sold for $775,000. The cost of the merchandise sold is $426,250. a. What is the amount of the gross profile? b. Compute the gross profile percentage (gross profile divided by sales). c. Will the income statement necessarily report a net income? Explain.

Subject - account  Please help me.  Thankyou.

Determining Gross Profit During the current year, merchandise is sold for $821,000. The cost of merchandise sold sold is $599,330. a.  What is the amount of the gross profit?$ b.  Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number.% c.  When will the income statement necessarily report a net income?

During the current year, merchandise is sold for $970,000. The cost of the merchandise sold is $630,500. a) What is the amount of the gross profit? (b) compute the gross profit percentage. (c) when will thr income statement necessarily report a net income?

I want to correct answer general accounting

Determining Gross Profit During the current year, merchandise is sold for $45,870,000. The cost of the merchandise sold is $33,026,400. a. What is the amount of the gross profit? 12,843,600 b. Compute the gross profit percentage (gross profit divided by sales).   % c. When will the income statement necessarily report a net income?