I need Answer of this Question Please solve Without Fail RK Inc., a local retailer, has provided the following data for the month of June:ItemAmount ($)Merchandise inventory, beginning balance $60,500Merchandise inventory, ending balance$55,200Sales$350,000Purchases of merchandise inventory$175,800Selling expense$25,400$65,300Administrative expenseThe cost of goods sold (COGS) for June wasa. $181,100b. $168,200c. $177,100d. $230,500City Express Train Service's fixed costs total $60,000 permonth. The variable cost per passenger is $20, and ticketssell for $50. What is the contribution margin per unit andthe contribution margin ratio?a. $30 per passenger, 60%b. $30 per passenger, 40%c. $20 per passenger, 60%d. $20 per passenger, 40%

First QuestionCalculation of Cost of Goods SoldCost of Goods Sold = Merchandise Beginning…

Answered: RK Inc., a local retailer, has provided…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 4EB: The following is selected information from Orange Industries. Compute net purchases, and cost of...

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