Given the following information regarding to a recent period's operations: Sales - P? Beginning finished goods inventory - P12,000 Cost of goods manufactured - P36,000 Ending finished goods inventory - P6,000 Cost of goods sold - P? Gross margin - 40% of Sales Administrative and selling expenses_P10,000 Net operating income - P? Determine the following: • cost of goods sold • cost of goods available for sale • net operating income • gross margin • sales

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A: Cost of Goods Sold - Cost of Goods Sold is the cost incurred to sold goods to the customers. It…

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Q: Need Help with this Question.. provide Solutions with explanation

A: Step 1: Cost of goods available for sales = $237,800 Beginning finished goods inventory = $85,400…

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A:

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A: Ending inventory is the value of goods available for sale and held by a company at the end of the…

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A: Cost of goods sold include the cost of goods that are sold during the period. Cost of goods sold =…

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A: Cost of goods sold is the value of the goods sold by the company by adding beginning Finished goods…

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Q: Use the following to calculate the general and administrative expenses.

A: General and administrative expenses include the expenses related to the general services of the…

Q: Assuming that all net sales figures are at retail and all cost of goods sold figures are at cost,…

A:

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A: Cost of goods sold = Beginning inventory + cost of goods purchased - ending inventory

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A: Inventory turnover is a measure that evaluates the efficiency of the entity. It means how…

Q: Given the following:   Number purchased Cost per unit Total January 1 inventory   30     $ 5     $…

A: LIFO: LIFO stands for Last-In, First-Out. In this method inventory purchased at last will be sold…

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A: The gross profit is computed by deducting the cost of goods sold from the sales revenue. The cost of…

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A: Costs of goods sold = Sales - Gross Profit Operating expenses = Gross Profit - Net Income

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A: The weighted Average Method, Last-in-first-out method [LIFO], and First-in-first-out [FIFO] are the…