Given gross sales of $40,000 and sales returns and allowances of $6,000, what are the net sales?
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What are the net sales on these accounting question?
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000What is the gross profit on these general accounting question?What is the net sales amount?
- Gross Profit would be____.During the current year, merchandise is sold for $775,000. The cost of the merchandise sold is $426,250. a. What is the amount of the gross profile? b. Compute the gross profile percentage (gross profile divided by sales). c. Will the income statement necessarily report a net income? Explain.If gross sales is P40,000, sales returns and allowances P1,000, sales discounts P400, and delivery expenses P100, the net sales of the business will total
- Financial information is presented below: Operating expenses $ 50000; Sales returns and allowances 3000; Sales discounts 5000; Sales revenue 184000; Cost of goods sold 98000. Given the information, what would be the gross profit?Need Help please provideDuring 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 problemGross profit? account.Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of the goods sold is $7,050,000. a. What is the amount of the gross profit?$ b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number. % c. When will the income statement report net income?