For the fiscal year, sales were $5,280,000, sales discounts were $100,000, sales returns and allowances were $75,000, and the cost of merchandise sold was $3,000,000. Provide Answer
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For the fiscal year, sales were $5,280,000, sales discounts were $100,000, sales returns and allowances were $75,000, and the cost of merchandise sold was $3,000,000. Provide Answer
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- For the fiscal year, sales were $7310000, sales discounts were $120000, sales returns and allowances were $90000, and the cost of merchandise sold was $4180000. What was the amount of gross profit? Add your answersolve Question with answer of a and bMarkle's Inc. had the following transactions during the year: total sales = $610,000; sales discounts = $13,000; sales returns = $36,000; sales allowances = $16,000. In addition, at the end of the year the company estimates the following transactions associated with sales in the current year will occur next year: sales discounts = $1,300; sales returns = $4,320; sales allowances = $2,130. Compute net sales. Total sales Net sales
- During the current year, merchandise is sold for $589,000. The cost of merchandise sold is $266,360. a. What is the amount of the gross profit? b. Compute the gross profit percentage (gross profit divided by sales).During the current year, merchandise is sold for $589,000. The cost of merchandise sold is $266,360. a. What is the amount of the gross profit? b. Compute the gross profit percentage (gross profit divided by sales). Solve the problem36 Gross sales for the year were $100,000. During the year, sales discounts of $2,000 were recorded. In addition, sales returns and allowances for $7,000 were recorded. The total amount of cash collected from customers during the year was $88,000. Many accounts remain uncollected at the end of the year. What is the amount of net sales to be reported for the year? O 91,000 ○ 93,000 ○ 95,000 ○ 98,000