Requlred Informatlon[The following information applies to the questions displayed below.]Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa byselling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, andaromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the workthat is created when inventory is involved in a business. The following transactions were selectedfrom among those completed by NGS in August.Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spaservice part of the bundle sells for $48 and the merchandise basket normally sells for$109. Together, the bundle was sold to Val Amy for cash at a selling price of $450 (total).Val booked a spa treatment for August 18, and she took the basket of goods with her. Thegoods had cost NGS $80.Aug. 3 Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of$509 (total); terms n/30. The goods cost NGS $480.Aug. 6 Cosmetics R Us returned one of the five items purchased on August 3. The item could still besold by NGS in the future and credit was given to the customer.Aug. 10 Val Amy used one of the three spa treatments she had purchased as part of the bundle sold toher on August 2.Aug. 20 Sold two at-home spa kits to Meghan witzel for $300 cash. The goods cost NGS $96.Aug.22 Cosmetics R Us paid its remaining account balance in full.2-a. Calculate the Sales Revenue and Cost of Goods Sold for the transactions listed above (but exclude ServiceRevenue for spa services).Sales RevenueCost of Goods Sold2-b. What is Nicole's Getaway Spa's gross profit percentage (excluding Service Revenue)? (Round your answer to 1decimal place.)Gross Profit Percentage

PLEASE LIKE THE ANSWER 2-a Calculate sales revenue and cost of goods sold…

Nicole's Getaway Spa (NGS) has been so successful that Nicole has decided to expand her spa by selling merchandise. She sells things such as nail polish, at-home spa kits, cosmetics, and aromatherapy items. Nicole uses a perpetual inventory system and is starting to realize all of the work that is created when inventory is involved in a business. The follovwing transactions were selected from among those completed by NGS in August. Aug. 2 Sold a bundle of spa services with a merchandise basket. When sold separately, the spa service part of the bundle sells for $40e and the merchandise basket normally sells for $100. Together, the bundle was sold to Val Amy for cash at a selling price of $450 (total). Val booked a spa treatment for August 10, and she took the basket of goods with her. The goods had cost NGS $8e. Aug. 3 Sold 5 identical items of merchandise to Cosmetics R Us on account at a selling price of $500 (total); terms n/30. The goods cost NGS $400. Aug. 6 Cosmetics R Us returned one of the five items purchased on August 3. The item could still be sold by NGS in the future and credit was given to the customer. Aug. 10 Val Amy used one of the three spa treatments she had purchased as part of the bundle sold to her on August 2. Aug. 20 Sold two at-home spa kits to Meghan witzel for $300 cash. The goods cost NGS $96. Aug. 22 Cosmetics R Us paid its remaining account balance in full. 2-a. Calculate the Sales Revenue and Cost of Goods Sold for the transactions listed above (but exclude Service Revenue for spa services). Sales Revenue Cost of Goods Sold 2-b. What is Nicole's Getaway Spa's gross profit percentage (excluding Service Revenue)? (Round your answer to decimal place.) Gross Profit Percentage

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4Q: Lizzys is a retail clothing store, specializing in formal wear for weddings. They purchase their...