General Merchandising Co. Selling price is P2,750, Selling expenses is P500 and the Cost to sell s P650. The cost of sales is P.1750 and replacement cost P1,500, 47. What is Lower of Cost or Net Realizable Value (NRV)? LCNRV AP1,500. B. P 1.600. C.P 1,750. D. P 2,750 OD O B OC O A
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- M MISLANG MANAGEMENT CONSULTANCY SERVICES "Your SECs Is My Existarnce 1,260,000 900,000 360,000 D. Net Sales Cost of goods sold Gross Profit 1. If the given data is Gross profit based on cost of 40%. What is the cost ratio? 2. If the given data is Gross profit based on sales of 40% What is the sales ratio? meetgoogie com sarg youreen St shering Hie ET a t Dee D Mt y nEb) Write Excel Formulas for given data sheet A B D E 1 Product Product Price per Sales tax(10% |Net Price No item of price) ? name 2 1 Mouse 5000 keyboard joyStick 3 1000 4 3 1500 4 VGA cable 800 6. Monitor 15000 Total price of all items 5% concession on total price 7 ? 8 ? 9. Total bill ? Dage 213The following information is for Lawrence Company, who uses the LIFO method: Item Cost NRV MinusNormal Profit Net RealizableValue ReplacementCost a $3.40 $2.79 $4.14 $4.65 b 36.00 28.80 32.40 27.60 c 2.40 1.32 1.56 1.94 d 6.00 5.55 6.15 6.30 e 24.00 20.40 22.80 21.00 f 13.35 10.55 12.30 12.90 1. Determine the lower of cost or market for each inventory item. Item Lower ofCost or Market Value a $ b $ c $ d $ e $ f $ 2. Now assume instead that the company uses FIFO and the inventory is valued using the LCNRV rule, determine the value of each inventory item. Item Lower ofCost or Net Realizable Value a $ b $ c $ d $ e $ f $
- Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return inwards OMR 2000 a.OMR 4000 b.OMR 10000 c.OMR 12000 d.OMR 6000Question: Given the historical cost of the product, Dominoe is $65, the selling price of product Dominoe is $90, costs to sell product Dominoe are $16, the replacement cost for product Dominoe is $60, and the normal profit margin is 20% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method? a. $65. b. $56. c. $60. d. $74.
- the Sales Cost ( 390000)$ , Sales ( 990000)$ , Ind. Marketing ( f. ) ( 120000)$ Ind. Exp. ( f.) ( 150000)$. Ad. Cost ( 220000)$. Net profit ( using variable Cost ) ?TB MC Qu. 6-93 Inventory records for Marvin Company... 38 Inventory records for Marvin Company revealed the following: of Onite Cost Мar. 1 Beginning inventory 960 $7.28 34 Mar.10 Purchase 570 7.71 Mar.16 Purchase 790 8.16 Mar.23 Purchase 550 8.56 Marvin sold 1,960 units of inventory during the month. Cost of goods sold assuming FIFO would Round your answer to the nearest dollar amount.) Multiple Choice $13,942.ABC Merchandising buys merchandise costing P35,000 and returns P10,000 cost of the merchandise. If the term is 2/10, n/30 and the company pays the discount period, how much it should pay the seller? O a. P34,300 O b. P24,500 O c. P21,250 O d. P25,000
- Q36 Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were sold, what would be the gross amount? Select one: a. R48 000 b. R50 000 c. R40 000 d. R33 333Sienna Company uses the FIFO cost flow assumption. Sierra has inventory with a selling price of 100, packaging costs of 5, and transportation costs of 10. Siennas normal profit margin is 20. However, due to limited supply of the product from the manufacturer, it would cost Sienna 80 to replace the inventory. What amount should be used as the market value? a. 65 b. 80 c. 85 d. 100e uode pnbliu orucy norW 2eansqxo pnl eend e evolenerdT eeanepre wet ainT iniog nove-nsid 1uoy tuo enug Situation: Selling Price: P 1,700 Fixed expenses Selling and administrative P 13,000,000 Interest and expenses P 1,000,000on arti oono adT aldettonq od Fixed expenses Selling and administrative P 300 Cost of goods sold nolto 2uenengtna anole JOV Worn o.nahogmi P 400o beand od bluorle enc Requirement: What is the company's contribution margin? 3.