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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- Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?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.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. Financial Accounting
- During the current year merchandise is sold for 45,870,000. The cost of the merchandise sold is 33,026,400. What is the amount of gross profit?During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost of the goods sold is $2,835,000. What is the amount of the gross profit?During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The coset of the goods is $188,000. What is the amount of the gross profit?