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 >

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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