Earnings and Expenses (Year Ending January 2012) $100,000,000 $85,000,000 $10,300,000 Sales Cost of goods sold (COGS) Pretax earnings Selected Balance Sheet Items Merchandise Inventory Total assets $5,150,000 $11,000,000

Earnings and Expenses (Year Ending January 2012) $100,000,000 $85,000,000 $10,300,000 Sales Cost of goods sold (COGS) Pretax earnings Selected Balance Sheet Items Merchandise Inventory Total assets $5,150,000 $11,000,000

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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The gross profit margin excludes all costs except the cost of goods sold. If Miller Company recorded Net Sales of $17,260 for the month of March 2021, and cost of goods sold of $11,042, what is the company’s gross profit margin for the month of March. 37.4% 36% 39.2% 38.6%
1.) refer to the original data. Compute the company's margin of safety in both dollar and percentage terms ? 2.) what is the company's cm ratio? If he company can sell more units thereby increasing sales by $84000 per month and there is no change in fixed expense, by how much would you expect monthly net operating income to increase?
4) Big Foot recorded a gross margin of 55% in last year. If cash discounts of the store were 2% while alteration costs were 1% of its net sales in last year, what was the maintained markup percentage Big Foot achieved in last year?
You are trying to prepare financial statements for Bartlett Pickle Company, but seem to be missing its balance sheet. You have Bartlett's income statement, which shows sales last year were $300 million with a gross profit margin of 30 percent. You also know that credit sales equaled three-quarters of Bartlett's total revenues last year. In adlon, Bartlett had a collection period of 40 days, a payables period of 30 days, and an inventory turnover of 7 times based on cost of oods sold. Calculate Bartlett's year-ending balance for accounts receivable, inventory, and accounts payable. Note: Round your answers to 1 decimal place. Bartlett's year-ending balance (million) Accounts receivable Inventory Accounts payable BV3
For 2021, Walmart and Target had the following information (all values are in millions of dollars): Assume a 365-day year. a. What is each company's accounts receivable days? b. What is each company's inventory turnover? c. Which company is managing its accounts receivable and inventory more efficiently? Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Walmart Target (Income Statement) Sales 572,762 106,007 Cost of Goods Sold (Income Statement) 428,997 74,962 Accounts Receivable (Balance Sheet) 8,279 830 Inventory (Balance She 56,519 13,902 = X
Another way to look at the concept of inventory turnover is by measuring sales per square foot. Taking the average inventory at retail and dividing it by the number of square feet devoted to a particular product will give you average sales per square foot. When you multiply this figure by the inventory turnover rate, you get the annual sales per square foot. It is important to know the amount of sales per square foot your merchandise is producing, both on average and annually. These figures should be tracked monthly and compared with industry standards for businesses of similar size and type. You own a large multi product electronics store in a regional mall. The store has 10,600 square feet of selling space divided into five departments. (a) From the table below, calculate the average and annual sales (in $) per square foot. Then calculate the annual sales (in $) for each department and the total sales (in $) for the entire store. (Round your average and annual sales per square foot…
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Calculate the actual sales since the sales and sales tax were rung up together. Assume sales tax of 6% and total sales of $35,000. Note: Round your answer to the nearest cent. Actual sales