ON 62 | 6:45If the net sales 159 150 ID, -1beginning finished goods inventory 16500 ID ,Cost of goods manufactured121 050 ID , ending finished goodsinventory 900O ID,thegross profit.(.. . are60 60090 60030 600 OIf the prime cost 70 700 ID ,- 2manufacturing overhead 12 000 ID,beginning work inproces inventory 4000 ID ,ending work inprocesinventory 6 00O ID ,the cost of goods* . . .) manufactured are80 700 ID. O100 700 ID.60 700 ID.

Name: ON 62 | 6:45If the net sales 159 150 ID, -1beginning finished goods i
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Description: ON 62 | 6:45If the net sales 159 150 ID, -1beginning finished goods inventory 16500 ID ,Cost of goods manufactured121 050 ID , ending finished goodsinventory 900O ID,thegross profit.(.. . are60 60090 60030 600 OIf the prime cost 70 700 ID ,- 2manufa

Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

Business

Accounting

If the net sales 159 150 ID , -1 beginning finished goods inventory 16 500 ID ,Cost of goods manufactured 121 050 ID , ending finished goods inventory 900O ID , the gross profit *.(. . are 60 600 O 90 600 O 30 600 O

If the net sales 159 150 ID , -1 beginning finished goods inventory 16 500 ID ,Cost of goods manufactured 121 050 ID , ending finished goods inventory 900O ID , the gross profit *.(. . are 60 600 O 90 600 O 30 600 O

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume the beginning inventory as of January 1 consisted of 500 units that were purchased for $8.25 each. During the month, three new purchases were made. The first purchase consisted of 700 units costing $8.50 each, the second purchase had 800 units costing $9.00 each, and the third purchase had 600 units costing $9.50 each. At the end of the month, ending inventory shows 700 units. Compute the cost of goods sold and the ending inventory for the company using each of the following methods. Also determine the gross margin if the total sales revenue is $43,000. a. Specific identification: Of the units sold, 300 were from the beginning inventory, 600 from the first purchase, 700 from the second purchase, and 300 from the third purchase. Cost of goods sold 24 Ending inventory 24 Gross profit $ b. First-in, first-out (FIFO) Cost of goods sold $ Ending inventory Gross profit $ c. Weighted-average (round the unit price) Cost of goods sold 24 Ending inventory $ Gross profit $ d. Last-in,…
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Sales $ 450000 ; Sales returns $ 50000 ; cost of goods sold $ 200000 Determine the values of Net sales and Gross profit with two serial numbers independent.
Explain how to get gross profit
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A9
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If the beginning inventory 70 000 ID. , the cost of purchases 330 000 ID., purchases expenses 50 000 ID., cost of goods available for sale 450 000 ID., sales 900 000 ID. , ending inventory 130 000 ID., sales returns and allowance 100 000 ID., the cost * -: of goods sold are no one 280 000 ID. 400 000 ID. O 550 000 ID. O