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QUESTION:90 The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. Purchases: $126,000 Selling & Administrative Expenses: $90,000 Merchandise inventory, 1/1/2012: $14,000 Merchandise inventory, 12/31/2012: $10,000 Sales revenue: $250,000 What is the gross profit percentage? A. 56% B. 36% C. 48% D. 100%

QUESTION:90 The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. Purchases: $126,000 Selling & Administrative Expenses: $90,000 Merchandise inventory, 1/1/2012: $14,000 Merchandise inventory, 12/31/2012: $10,000 Sales revenue: $250,000 What is the gross profit percentage? A. 56% B. 36% C. 48% D. 100%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION:90 The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. Purchases: $126,000 Selling & Administrative Expenses: $90,000 Merchandise inventory, 1/1/2012: $14,000 Merchandise inventory, 12/31/2012: $10,000 Sales revenue: $250,000 What is the gross profit percentage? A. 56% B. 36% C. 48% D. 100%
Transcribed Image Text:QUESTION:90 The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. Purchases: $126,000 Selling & Administrative Expenses: $90,000 Merchandise inventory, 1/1/2012: $14,000 Merchandise inventory, 12/31/2012: $10,000 Sales revenue: $250,000 What is the gross profit percentage? A. 56% B. 36% C. 48% D. 100%
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