Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier $ 170,000 5,000 Lennox $ 950,000 22,000 16,000 98,340 6,000 585,470 Trane $ 58,000 York $ 277,000 600 5,400 5,900 2,300 39,655 129,264 (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. Required A Required B Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. Note: Round your gross margin ratio to 1 decimal place, i.e., 0.2367 should be entered as 23.7%. Net sales Gross profit Gross margin ratio Carrier Lennox Trane York Required B

Sales Sales discounts Sales returns and allowances Cost of goods sold Carrier $ 170,000 5,000 Lennox $ 950,000 22,000 16,000 98,340 6,000 585,470 Trane $ 58,000 York $ 277,000 600 5,400 5,900 2,300 39,655 129,264 (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. Required A Required B Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. Note: Round your gross margin ratio to 1 decimal place, i.e., 0.2367 should be entered as 23.7%. Net sales Gross profit Gross margin ratio Carrier Lennox Trane York 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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Give correct gross margin
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