Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances $17,000 Opening inventory at cost $46,000 Billed cost of goods $118,000 Inward transportation $5,400 Cash Discount $6,400 Closing inventory at cost $37,000 Payroll $48,300 * Occupancy $34,000 Wrapping and packing $1,450 Utilities $3,000 Delivery $2,960 Your Answer:

Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances $17,000 Opening inventory at cost $46,000 Billed cost of goods $118,000 Inward transportation $5,400 Cash Discount $6,400 Closing inventory at cost $37,000 Payroll $48,300 * Occupancy $34,000 Wrapping and packing $1,450 Utilities $3,000 Delivery $2,960 Your Answer:

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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