For the year ended 2012 Wendy Retail Store's Net income is PI50,000 (10% of Net Sales). Operating Expenses, 20% of Net Sales. Cost of Sales, 80% of Total Goods Available for Sale. Beginning Merchandise Inventory is 20% of Cost of Sales 47. Beginning Merchandise Inventory amounts to - 300,000 250,000 c. 210,000 d. 260,000 48. Total Purchases amounts to - a 1,100,000 b. 1,102,500 1,200,000 d. 1,200,500 49. Ending Merchandise Inventory amounts to - a. 260,000 b 265,500 c 263,000 d 262,500 50. What percentage is the total cost of Purchases in relation to Total Goods Available for Sale? a 80% b. 78% C 84% d 82% 51. Assuming the Gross Profit Rate remains the same in 2013, how much is the Gross Profit for 2013 with a Net Sales of P2,000,000? a 600,000 b. 500,000 C 450,000 d. 300,000
For the year ended 2012 Wendy Retail Store's Net income is PI50,000 (10% of Net Sales). Operating Expenses, 20% of Net Sales. Cost of Sales, 80% of Total Goods Available for Sale. Beginning Merchandise Inventory is 20% of Cost of Sales 47. Beginning Merchandise Inventory amounts to - 300,000 250,000 c. 210,000 d. 260,000 48. Total Purchases amounts to - a 1,100,000 b. 1,102,500 1,200,000 d. 1,200,500 49. Ending Merchandise Inventory amounts to - a. 260,000 b 265,500 c 263,000 d 262,500 50. What percentage is the total cost of Purchases in relation to Total Goods Available for Sale? a 80% b. 78% C 84% d 82% 51. Assuming the Gross Profit Rate remains the same in 2013, how much is the Gross Profit for 2013 with a Net Sales of P2,000,000? a 600,000 b. 500,000 C 450,000 d. 300,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For the year ended 2012 Wendy Retail Store's Net income is PI50,000 (10% of Net Sales). Operating Expenses,
20% of Net Sales. Cost of Sales, 80% of Total Goods Available for Sale. Beginning Merchandise Inventory is
20% of Cost of Sales.
47. Beginning Merchandise Inventory amounts to -
C. 210,000
d. 260,000
300,000
250,000
48. Total Purchases amounts to -
a 1,100,000
b. 1,102,500
O 1,200,000
d. 1,200,500
49. Ending Merchandise Inventory amounts to -
a. 260,000
b. 265,500
c. 263,000
d 262,500
50. What percentage is the total cost of Purchases in relation to Total Goods Available for Sale?
a 80%
b. 78%
84%
d 82%
51. Assuming the Gross Profit Rate remains the same in 2013, how much is the Gross Profit for 2013 with a
Net Sales of P2,000,000?
600,000
b. 500.000
c. 450,000
d. 300,000
a
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