Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier $ 165,000 Net sales Gross profit Gross margin ratio 4,000 17,000 95,760 Carrier Lennox $ 850,000 19,500 6,000 507,892 Lennox (a) Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (b) Which company has the better gross margin ratio? Complete this question by entering your answers in the tabs below. Trane $ 53,000 Required A Required B Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place, i.e., 0.2367 should be entered as 23.7%.) < Required A 600 5,400 36,190 Trane York $ 272,000 York 4,900 1,800 129,997 Required B >

Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier $ 165,000 Net sales Gross profit Gross margin ratio 4,000 17,000 95,760 Carrier Lennox $ 850,000 19,500 6,000 507,892 Lennox (a) Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (b) Which company has the better gross margin ratio? Complete this question by entering your answers in the tabs below. Trane $ 53,000 Required A Required B Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place, i.e., 0.2367 should be entered as 23.7%.) < Required A 600 5,400 36,190 Trane York $ 272,000 York 4,900 1,800 129,997 Required B >

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...

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The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)
Use the first-in, first-out method (FIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.
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