PC Connection is a leading mail-order retailer of personal computers. A recent financial report issued by the company revealed the following information. Merchandise inventory (beginning of the year) $79 million Merchandise inventory (end of the year) Net sales for the year Gross profit margin $91 million $2.46 billion 13% A. Compute the company's cost of goods sold for the year. B. Approximately how much inventory did PC Connection purchase during the year?
PC Connection is a leading mail-order retailer of personal computers. A recent financial report issued by the company revealed the following information. Merchandise inventory (beginning of the year) $79 million Merchandise inventory (end of the year) Net sales for the year Gross profit margin $91 million $2.46 billion 13% A. Compute the company's cost of goods sold for the year. B. Approximately how much inventory did PC Connection purchase during the year?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 33BE
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