Online SalesRetail Sales1 to 10 skeins11 to 20 skeinsOver 20 skeins1 to 10 boxes11 to 20 boxesOver 20 boxesAn analysis of the previous year's records produced the following statistics.Order SizeSmallMediumLargeItemsRetail sales boxes (12 skeins per box)Online sales, skeinsNumber of retail ordersNumber of online leadsSmallSales commissionsPay-per-click/Search engine optimizationCost of online salesCredit and collectionTotal cost for all orders of a given sizeUnits (skeins) soldUnit cost per order of a given size4,50084,000535351,830Order Size$MediumRequired:1. Prepare a schedule showing TCC's total selling cost for each order size and the per-skein selling cost within each order size.Note: Round your intermediate calculations and unit cost per order to 2 decimal places.Small52,50057,0002,665319,370TEXTILE CRAFT COMPANYComputation of Selling CostsBy Order Size and Per Skein Within Each Order SizeLarge183,00049,0004,300100,5000 $Order SizeMediumTotal240,000190,0007,500771,7000 $Large$0 $Total0OO00

Order Size Total cost for all orders of a given size Units (Skeins) sold Unit cost per order…

Answered: Online Sales Retail Sales 1 to 10…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter4: Income Measurement And Accrual Accounting

Section: Chapter Questions

Problem 4.2DC

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Current Attempt in Progress The records of Coronado's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $103,800 1,900 9,300 1,600 9,600 2,700 2,300 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $43,800 Ending inventory using conventional retail inventory method $ 92,200 1,900 2,800 26,550 44,400 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)
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Communication Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and sales for the year are as follows: Purchases: Sales: The president of the company, Connie Kilmer, has asked for your advice on which inventory cost flow method should be used for the 32,000-unit physical inventory that was taken on December 31. The company plans to expand its product line in the future and uses the periodic inventory system. Write a brief memo to Ms. Kilmer comparing and contrasting the LIFO and FIFO inventory cost flow methods and their potential impacts on the companys financial statements.
Nk.4
Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $463,358 Cost of merchandise sold during year 205,692 Accounts receivable, beginning of year 46,704 Accounts receivable, end of year 51,670 Merchandise inventory, beginning of year 33,192 Merchandise inventory, end of year 39,686 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.59 days b.65 days c.129 days d.70 days
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Generalized Statement Instructions Instructions Multiple-Step Income Statement Use the following information to prepare a multiple-step income statement, including the revenue section and the cost of goods sold section, for Sauter Office Supplies for the year ended December 31, 20-. Sales $156,300 Sales Returns and Allowances 2,360 Sales Discounts 4,167 Interest Revenue 425 Merchandise Inventory, January 1, 20- 29,600 Purchases 112,000 Purchases Returns and Allowances 5,640 Purchases Discounts 2,690 Freight-In Merchandise Inventory, December 31, 20-- 875 33,000 Wages Expense 27,600 Supplies Expense 700 Phone Expense 900 Utilities Expense 8,000 Insurance Expense 1,300 Depreciation Expense-Equipment Miscellaneous Expense 3,800 590 Interest Expense 4,700 H
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APPLYING THE CONCEPTS: Purchases and sales in action This is a list of purchases and sales transactions that occurred in the month of November. Correctlyjournalize these transactions below. Use Smart Entry when dropdowns are not available. Forcompound entries, if amount box does not require an entry, leave it blank. If required, round to the nearest cent. November 1 Purchased inventory on account with credit terms 2/10, n/30, $4900. November 2 Paid freight-in costs FOB shipping point, $200. November 6 Returned part of inventory purchased on 11/1 for a credit, $980. November 8 Sold inventory on credit, terms 2/10, n/30, $3600. November 10 Paid one half of the amount due for the purchase on 11/1. November 15 Accepted return of part of inventory sold on 11/8 for credit, $720. November 16 Paid the remaining balance of the amount due for the purchase on 11/1. November 17 Collected in full for the sale on 11/8.
Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $575,757 Cost of merchandise sold during year 193,428 Accounts receivable, beginning of year 43,481 Accounts receivable, end of year 51,054 Merchandise inventory, beginning of year 32,544 Merchandise inventory, end of year 43,018 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.
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