Following are the given figures: Opening Stock Rs. 30,000, Carriage On Sales Rs. 3,000; Closing Stock Rs. 28,000; Rent Of Office Rs. 5,000, Purchase Rs. 85,800, Sales Rs. 1,40,700, Carriage On Purchase Rs. 2,300; Selling Expenses Rs. 600; Drawings Rs. 10,000; Gross profit will be A Rs 50,000 O b. Rs 47,600 C Rs 42,600 O d. Rs 50,600

Q: 15/24 crual Basis Balance Sheet As of December 31, 2024 Dec 31, 24 % of Column 24000 - PayrollI…

A: The question is related to Net Profit Margin. The Net Profit Margin is calculated as under  Net…

Q: Net Sales $336,500 Cost of Goods Sold $132,200 $ Gross Margin ($) Operating Expenses $109,000 $ Net…

A: Net profit is the amount of sales revenue left after paying all the operating expenses incurred…

Q: A Trading has a total sales of P 98,800;  sales return is P  5,400;  cost of good sold is P 8,490;…

A: Net sales = Total sales - sales return  = P98,800 - P5,400 = P93,400

Q: Sales $3,000,0000 Operating income $750,000 Taxable income $650,000 Investment $5,000,000 What is…

A: Rate of return ratio :— It is the ratio between operating income and average operating investment.…

Q: Assume that the Bubba Co. has $1,000,000 in Sales ($600,000 on account; $400,000 for cash), Cost of…

A: Gross profit: It can be defined as the excess of a company's sales revenue over the cost of goods…

Q: the gross profit ( 3250 000 )$ , and the sales value ( 9550 000 )$ . Total cost ? * .a- ( 6300 000…

A: Gross profit is calculated by deducting the cost of goods sold from the sales revenue.

Q: Assume that the Acct 201 Co. has $1,000,000 in Sales ($600,000 on account; $400,000 for cash), Cost…

A: Formula used for calculating Gross profit: Gross profit = Sales revenue - Cost of merchandise sold

Q: Amjad Trading LLC : Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO…

A:

Q: Sales Rs= 10,000, Gross Profit Rs= 3,000, Cost of Goods Sold Rs=? Gross profit Rs= 5,000, Gross…

A: Sales means the net revenue to be received from sale of goods or services. Cost of goods sold means…

Q: If the Gross profit is Rs. 5,000 and the net profit is 25% of the Gross profit. The ?expenses must…

A:

Q: Given the following account information, calculate net income: Sales          500,000   Beginning…

A:

Q: Sales Cost of goods sold Operating expenses Sales discounts Sales returns and allowances Interest…

A: Introduction: Sales are any operating revenues generated by a company through its business…

Q: A company reports net sales of OMR 60,000, cost of goods sold is OMR 35,000, operating expenses is…

A: Net Income is also known as net earnings. It refers to the amount which is derived after deducting…

Q: 3. During September an organisation had sales of £148,000, which showed a gross profit of £40,000.…

A: The term stock refers to tangible property held for sales in the ordinary course of business or for…

Q: Given Sales P 1,800,000; Purchases P 684,000, Ending Inventory P 168,000, Operating expenses P…

A: Solution: Cost of sales is computed as = Sales - Gross profit Net income = Gross profit - Operating…

Q: Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet…

A: Inventory refers to the goods available for sale and used as a raw material for production of…

Q: owing A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections…

A: In Philippines Vat rate is 12% in general. It is charges at 12% on sale of goods and properties. It…

Q: For the goods purchased by the business, the Availability of Goods at the Beginning of the Period is…

A: Cost of goods sold means actual cost of goods that are being sold to the customers.

Q: If the gross profit ( 2250 000 )D. The total Cost ( 4750 000 )D. , and the Sales value ( 7000 000…

A: If the gross profit 2250000D. The total Cost 4750 000D., and the Sales value 7000000 D.The percent…

Q: Need answer

A: Step 1: Introduction to the Income Statement ItemsA business primarily reports its sales revenue,…

Q: A company shows the following balances: Sales $1,000,000 225,000 25,000 600,000 Sales Returns and…

A: Gross profit is calculated as difference between sales and cost of goods sold.  Gross profit % is…

Q: Financial information is presented below: Operating Expenses $ 90,000 Sales Returns and 26,000…

A: The gross profit margin is calculated as gross profit divided by net sales revenue. Gross profit =…

Q: Operating Goods Sold ($) Margin Expenses (S) Cost of Gross Net Sales Net Profit $4,234,000 S…

A: The income statement is prepared to determine the net income of the business by subtracting the…

Q: If sales revenues are P400,000, cost of goods sold is P310,000, and operating expenses are P60,000…

A: In order to determine the gross profit, the cost of goods sold are required to be deducted from the…

Q: Sales Cost of goods sold Operating expenses Sales discounts Sales returns and allowances Interest…

A: Introduction: Net sales are a company's total sales after all deductions have indeed been made. It…

Q: The following financial information was provided by Anya Company: Net Income      8,255,000.00…

A: Net profit margin depends on sales and net income and all these are quite interrelated to each…

Q: If cost of goods sold is Rs. 25,00,000, closing stock is Rs. 2,00,000, and opening stock Rs.…

A: The cost of production is computed using the following formula: - Cost of Production = Closing…

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: mg expenses 8f $14,000, änd tötal operating costs of $71,000. Gross margin for the year is O A.…

A: Solution..   Sales revenue = $375,000  Cost of goods sold = $121,000  Gross margin = ?    Gross…

Q: If the net profit 56 460 ID ,other revenue and gains 4 360 ID ,selling expenses 73 900 ID , net…

A: Gross Profit of the business is the difference between sales revenue and cost of goods sold. Net…

Q: In an income statement, total Sales and revenue in $230,000 and total operating expenses is $80.000.…

A: Solution Net income = Total sales and revenue - Total operating expenses - Tax.

Q: What is the current ratio? Use the information below. Current Assets: $450,000 Costs of Goods Sold:…

A: Lets understand the basics. Current ratio shows that how much current asset is there in compare to…

Q: Takaful company has the following information: Earned contributions SR 500 Net claim incurred SR 100…

A: An expenses ratio seems to be the percentage of expenses accrued in relation to net contributions…

Q: Amjad Trading LLC:Gross Sales are RO 82,000, Sales Returns RO 2,000, Cost of goods sold is RO…

A: Introduction: Single step income statement: Deduction of all expenses from revenues derives the net…

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.