Income Statement for the year ending 31 December 2012 Sales revenue 75 000 Beginning inventory Purchases 12 000 40 000 52 000 Less ending inventory Cost of goods sold Gross profit Less expenses Net Income (8 000) 44 000 31 000 21 000 10 000 The following list of balances was also provided: Capital Buildings Inventory Accounts payable ( Creditors) Cash Bank overdraft Accounts receivable ( Debtors) Motor vehicles 50 000 26 500 8 000 10 000 6 500 5 000 14 000 20 000 (a) Using the information given, calculate the following ratios: • Net income margin Return on capital invested Rate of turnover

Income Statement for the year ending 31 December 2012 Sales revenue 75 000 Beginning inventory Purchases 12 000 40 000 52 000 Less ending inventory Cost of goods sold Gross profit Less expenses Net Income (8 000) 44 000 31 000 21 000 10 000 The following list of balances was also provided: Capital Buildings Inventory Accounts payable ( Creditors) Cash Bank overdraft Accounts receivable ( Debtors) Motor vehicles 50 000 26 500 8 000 10 000 6 500 5 000 14 000 20 000 (a) Using the information given, calculate the following ratios: • Net income margin Return on capital invested Rate of turnover

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 11E

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Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of goods sold on October 29, and (c) the inventory on October 31.
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Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of the merchandise sold on October 29, and (c) the inventory on October 31.
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What is the amount of gross sales for the current year? *Please ajswer in good acctg form. thanks
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