The following information appeared in the accounting records of Super Electronics for the previous year: • Sales: $450,000 • • Purchases: $180,000 Inventories: 。 January 1: $90,000 O December 31: $120,000 Sales commissions: $12,000 What was the gross margin for Super Electronics?
The following information appeared in the accounting records of Super Electronics for the previous year: • Sales: $450,000 • • Purchases: $180,000 Inventories: 。 January 1: $90,000 O December 31: $120,000 Sales commissions: $12,000 What was the gross margin for Super Electronics?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Transcribed Image Text:The following information appeared in the accounting records of
Super Electronics for the previous year:
•
Sales: $450,000
•
•
Purchases: $180,000
Inventories:
。 January 1: $90,000
O
December 31: $120,000
Sales commissions: $12,000
What was the gross margin for Super Electronics?
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