How do I calculate the gross margin value under the FIFO, LIFO, and weighted average methods.

Q: How I can calculate the gross margin?

A: Gross margin formula Sale-Cost of goods sold

Q: Briefly explain the difference between gross profit, net profit and EBIT.

A: Gross Profit is computed by deducting Cost of goods sold from Sales. Gross profit is the profit a…

Q: Define Gross Profit Method.

A: Definition:   Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a…

Q: What is the standard cost income statement?

A:

Q: Selected accounts from GermX Company's adjusted trial balance for the year ended December 31 follow.…

A: Workings :- 1) Calculation of carrying value of trading securities :- Trading securities (at cost) +…

Q: Define the term s price-earnings ratio?

A: Financial Ratios: Financial ratio analysis expresses the relationships between different items…

Q: Which are the Elements of transactions Involving Interest?

A: The Answer:

Q: a. Calculate the return on investment. (Round your answer to 2 decimal places.) Return on Investment…

A: Return on Investment: It is a measure of performance and profitability that is applied to evaluate…

Q: can you now calculate the gross profit ?

A: Gross profit can be defined as the net sales revenue earned by business over a particular period of…

Q: How is Gross Margin % calculated?

A:

Q: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: What does the gross profit percentage measure, and how is it calculated?

A: Gross margin percentage: The percentage of gross profit generated by every dollar of net sales is…

Q: Describe the format used to report the components of net income.

A: Net income: Net income is the excess amount of revenue after deducting all the expenses of a…

Q: What is the difference between g Operating Margin and Net Margin?

A:

Q: Explain the presentation of income statement.

A: Income Statement Income Statement is one of the key financial statements of a company It is used…

Q: What are the three components that can be described as the profit margin?

A: Income minus expenses gives us profit. The profit margin is the percentage of profits on sales or…

Q: what items are included in an income summary repor?

A: An income summary account is prepared at the end of accounting period to which all the incomes and…

Q: what is weighted average cost method?

A: The weighted average cost method is one of the methods to ascertain the unit cost of a product. It…

Q: What is the purpose of Classifying Costs for Financial Statement?

A: Cost Classifications helps the management in analysing the overall effect on the assets and…