Marathon Sports Gear had sales of $562,000, sales returns of $27,000, and purchase discounts of $11,000. Cost of Goods Sold was determined to be $280,000. How much gross profit did the Marathon Sports Gear report? A. $282,000 B. $266,000 C. $255,000 D. $240,000

Q: Assume Juniper Natural Dyes made Net Sales Revenue of $90,000 and Cost of Goods Sold totaled…

A: Gross profit = Sales - Cost of Goods Sold                     = $90,000-$58,000…

Q: Determining Gross Profit During the current year, merchandise is sold for $863,000. The cost of the…

A: INCOME STATEMENT   Income statement is one of the important financial statements of the company.…

Q: On January 15, Nifty Company sells merchandise on account to Martinez Associates for $5,000 with…

A: COncept -  The term 3/10, n/30 Indicates that,  If the payment is made within 10days then the…

Q: need help with this question

A: Step 1: 1) Net sales = Sales - Sales returns and allowances - Sales discountsNet sales = $1,000,000…

Q: Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of…

A: a. Calculate gross profit: Gross profit = Sales - Cost of goods sold Gross profit = $11,750,000 -…

Q: A company shows the following balances: Sales Revenue Cost of Goods Sold Sales Returns and…

A: Notes : Gross profit is the difference between net sales revenue and cost of goods sold. Gross…

Q: Determining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million.…

A: Gross Profit = Sales - Cost of Goods Sold

Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…

A: Gross profit margin helps in assessing how much the company has after paying all the costs which are…

Q: Revenue and expense data for the current calendar year for Tannenhill Company and for the…

A: The revenue and expense data of Company T are given along with the electronics industry averages.…

Q: A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals:…

A: The question is based on the concept of Accounting Ratios.

Q: Cushman Company had $834,000 in net sales, $364,875 in gross profit, and $208,500 in operating…

A: Gross profit = Net Sales - Cost of goods sold Cost of goods sold = Net sales - Gross profit

Q: Gross profit?

A: Definition of Gross profit:Gross profit is a measure of a company's efficiency in converting revenue…

Q: Need answer

A: Step 1: Introduction to the Income Statement ItemsA business primarily reports its sales revenue,…

Q: A company shows the following balances: Sales $1,000,000 225,000 25,000 600,000 Sales Returns and…

A: Gross profit is calculated as difference between sales and cost of goods sold.  Gross profit % is…

Q: The gross sales of Store C were $3,475,000. The customer returns were $31.700. What were the net…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: Can you please answer the question

A: Step 1: Introduction to the Gross Profit MarginThe gross profit margin is calculated on its income…

Q: I want to answer

A: Step 1: Introduction to the Net ProfitThe earnings after taxes are called the net profit calculated…

Q: Using the information below, calculate gross profit for the period. Sales $1,264,000 Selling…

A: Gross profit :— Gross profit is the profit of a business makes after subtracting all the costs that…

Q: Determining Cost of Goods Sold For a recent year, TechMart reported sales of $44,476 million. Its…

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: Help me to this question

A: Step 1: Given that, Sales = $2,358,000 Cost of goods sold = $1,149,320 Gross margin = Sales - Cost…

Q: The parts department shows gross sales of $116,000 and cost of goods sold of $38,000. What is the…

A: Gross profit is the profit which is available after deducting the cost incurred in the manufacturing…

Q: Prentice Company had cash sales of $95,275, credit sales of $84,050, sales returns and allowances of…

A: Net sales = Total sales - Sales return and allowances - Sales discount where, Total sales = Cash…

Q: XYZ Inc. had the following figures in its income statement: Sales $920,000 Cost of Goods Sold…

A: Introduction: Income statement: All incomes and expenses are shown in income statement. It tells the…

Q: A company had expenses other than cost of goods sold of $270,000. Determine sales and gross profit…

A: Income Statement Is One Of The Three Major Financial Statements. Net Income Shows The Total Sales…

Q: Garza Company had sales of $155,000, sales discounts of $2,325, and sales returns of $3,720. Garza…

A: Step 1:The net sales are computed by deducting sales discounts and sales returns from the total…

Q: Calculate the gross profit for Jefferson Company based on the following Sales $764,000 Selling…

A: The gross profit is called as difference between sales and cost of goods sold. The net income is…

Q: Calculate the gross profit for Jefferson Company based on the following: Sales $764,000 Selling…

A: Gross Profit is the profit a company makes after deducting the direct costs associated with the…

Q: Revenue is $125,000. Cost of goods sold are $75,000. Calculate gross margin. O 20% O 40% 60% 80%

A: Revenue = r = $125,000Cost of Goods Sold = cogs = $75,000

Q: Sales 460,000 Cost of goods sold 300,000 Operating expenses 85,000 Sales discounts 20,000 Sales…

A: Solution: Net sales = Sales - Sales discounts - sales return and allowances = 460000 - 20000 - 15000…