Find out cost of Goods sold and Sale price per unit in Rs. from the following information. Show your computations mathematically. Opening stock ? Average inventory 1, 80,000 Direct Expenses 150% of closing stock Purchases 3, 20,000 Returns outwards 40,000 Units sold 1010 Closing stock is three times the opening stock. Gross profit margins are 16.67% on sales value.

Q: During the current year, merchandise is sold for $8,780,000. The cost of the goods sold is…

A: Given: Merchandise sold =$8780000Cost of goods sold =$5531400

Q: Calculate the value of cost of goods sold for Thompson company given the following information:…

A: Quick Ratio = Liquid Assets / Current Liabilities Current Ratio = Current Assets/ Current…

Q: Assume a firm's inventory level of $11,000 represents 32 days' sales. Required: a. What is the…

A: The inventory turnover ratio indicates how many times the inventory was sold. It also indicates the…

Q: The closing stock of inventory of Mr. X has 100 shirts of Rs. 10 each and 200 shirts of Rs. 20 each.…

A: The weighted average cost is used when the products are homogenous in nature, in this the cost…

Q: A company has sales of $1,200,000. COGS is $900,000. Average inventory is $200,000. What is the…

A: An evaluation method that provides information regarding the number of days inventory held in the…

Q: Use the following information for the Quick Studies below. (Algo) ($ thousands) Net sales Current…

A: Given,  Current year net sales = $802,213 Prior year net sales = $453.350

Q: REQUIRED:  What is the amount of gross sales for the current year?

A: Gross sales means the amount of total sales without deducting the sales return from customer. Gross…

Q: Exercise 6-13 Inventory turnover and days' sales in inventory LA3 0 Use the following information…

A: The number of times a company sells or uses goods in a certain time period is known as inventory…

Q: Dulaney's Stores has posted the following yearly earnings and expenses. Click the icon to view the…

A: The current profit margin is a profitability ratio that shows how much the company generates profit…

Q: Current statements for Millie Company reveal the following: beginning and ending inventory balance…

A: Lets understand the basics. Days sales in inventory ratio indicates the average time in days that…

Q: Valley Markets has an inventory turnover of 3.2 and a capital intensity ratio of 1.9. What are the…

A: Lets understand the basics. Days in inventory ratio shows how many days it takes to convert raw…

Q: Calculate the amount of: (a)Cost of goods available for sale (b)Cost of goods sold during the year…

A: Introduction: The cost of goods sold refers to the direct costs of manufacturing the commodities…

Q: Compute the following transactions using multi-step income statement 2. Calculate Sales Returns and…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Use the following information to determine the Prior Year and Current Year trend percents for net…

A: Formula: Trend Percentage = Current year sales / prior year sales Division of current year sales…

Q: Calculate net sales based on gross sales of $805,000; sales returns of $5,400; and sales discounts…

A: The net sales are the sales calculated after adjusting sales discount, sales return and allowance,…

Q: A company has cost of goods sold of $85,000 and ending inventory of $18,000. Its days’ sales in…

A: Given, A company have the cost of goods sold at the rate of $85,000 and the ending inventory having…

Q: Wayne's Wells has sales for the year of P48,900 and an average inventory 21 of P8,800. The cost of…

A: Days Sales Inventory = 365* Average Inventory/ Cost of goods sold

Q: A store has a gross margin of 39.00% and retail reductions of 35.00%. What is the initial markup…

A: The initial markup percentage is a retail pricing strategy that represents the difference between…

Q: A retailer has net annual sales of $3,000,000. Retail expenses are $260,000. Net profit is $400,000.…

A: Answer:- Maintained markup percentage (retail) = (Retail expenses + Net profit) / Net annual…

Q: Steel Scrap Trader sells its product at a Gross Margin of 25% on Sales. Its Annual Sales are…

A: Inventory turnover ratio sales divided by average inventory.

Q: Given the following information, calculate the operating cycle. Use average inventory and…

A: Operating cycle = DIO+DSOwhereDIO = days inventory outstandingDSO = days sales outstanding

Q: a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

Q: How much is the Company’s cost of goods sold during the year?

A: The following information is given: Current ratio: 3.5 to 1Acid-test Ratio: 3.0 to 1Current…

Q: The gross sales of Store C were $3,475,000. The customer returns were $31.700. What were the net…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: Wanna Make An A, Inc. sells all its merchandise on credit.  It has a profit margin of 4%, AR period…

A: Information Provided: Profit margin = 4% Day sales outstanding = 60 days Accounts receivables =…

Q: Net sales $ 245,000   Cost of goods sold   176,000   Beginning inventory   54,000   Ending inventory…

A: Given information: Net sales is $245,000 Cost of goods sold is $176,000 Beginning inventory is…

Q: Assume that the net profit margin = 9%, assets are 95 cents for every dollar of sales, and equity is…

A: ROE (DuPont Model) = Net Profit Margin x Asset Turnover x Equity Multiplier   Where, Net Profit…

Q: Blue Company has the following data for the year: $140,000 Beginning inventory Net sales revenue…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is…

Q: sing the financial information presented below:             Operating Expenses  $ 55,000…

A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales…

Q: Given this information, what is the profit percent?  Format your answer to two decimal places and…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is the average collection period assuming annual data is used? quarterly data is used?

A: Assuming Annual data:  Average Collection period= [Account receivable/Sales]× 365  Assuming…

Q: Bolton Company has a beginning merchandise inventory of $500 and an ending merchandise inventory of…

A: Days sales in inventory is computed by dividing the average inventory by the average daily cost of…

Q: Marketing: Determine the stockturn rate of a retailer carrying an average inventory at cost of…

A: Calculate the stockturn rate of a retailer:

Q: Solve this one

A: Answer to Part a.Net Sales  = Sales  - Sales discounts-  Sales returns and allowancesNet Sales =…

Q: The following information is given about Arab Inc., sales were $500,000 and sales discounts were…

A: Cost of goods sold = Sales - Gross Profit Cost of goods sold = Cost of goods available for sale -…

Q: Complete the balance sheet and sales information using the following financial data: Total assets…

A: Lets understand the basics.financial ratio is calculated in order to determine financial health of…

Q: NEED ANSWER WITH EXPLANATION

A: Approach to Solving the Question1.Calculate Gross Profit: Subtract the cost of merchandise sold from…

Q: A company’s beginning inventory is $150,000, its net purchases are $230,000, and its netsales total…

A: Gross profit method: It refers to a method that allows the business in estimating the value of the…

Q: For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191…

A: Gross margin: Difference between the sales and the cost of goods sold is called gross margin. Gross…

Q: Determine the stockturn rate of a retailer carrying an average inventory at cost of $850,000, with a…

A: Retailer need merchandise  to make sales . in fact , a retailer inventory is its biggest asset . net…

Q: Nizwa Company had the cost of goods sold of $ 160,000 and inventory balance was $23,000. What is the…

A: Inventory turnover ratio = cost of goods sold / average inventory