Need Answer of this Question please provide solution Using the following information, calculate the net sales:Purchases$45,500Purchases discounts$1,250Merchandise inventory January 1$8,900Merchandise inventory December 31$7,400Sales returns and allowances$1,850Sales$89,500Purchases returns and allowances$2,100Freight In$1,680A. $85,550B. $87,650C. $89,500D. $87,750

Step 1: Define Net Sales:Net sales is calculated by subtracting sales returns and allowances from…

Answered: Using the following information,…

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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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.)
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From the following selected information from Mars Corp. compute net purchases, and cost of goods sold for the month of March. Account Normal Balances Inventory, February 28, 2018 $450,000 Inventory, March 31, 2018 $330,500 Purchase Discounts $12,450 Purchase Returns and $23,870 Allowances Sales $276,900 Sales Discounts $34,660 Gross Purchases $120,000 PLEASE NOTE: All dollar amounts will have "$" and commas, where needed (i.e. $12,345). Net Purchases = %3D Cost of Goods Sold =
The following is selected information from Mars Corp. Inventory, February 28, 2018 $456,000 Inventory, March 31, 2018 330,000 Purchase Discounts 12,450 Purchase Returns and Allowances 23,870 Sales 277,900 Sales Discounts 34,650 Gross Purchases 126,200 Compute net purchases, and cost of goods sold for the <) month of March. Assume the perpetual and periodic methods are used. Net purchases $1 Cost of Goods Sold $
The following is selected information from Mars Corp. Inventory, February 28, 2018 $455,000 Inventory, March 31, 2018 331,000 Purchase Discounts 12,450 Purchase Returns and Allowances 23,840 Sales 277,300 Sales Discounts 34,660 Gross Purchases 128,200 Compute net purchases, and cost of goods sold for the month of March. Assume the perpetual and periodic methods are used. What is the net purchases? What is the costs of goods sold?
If the estimated rate of gross profit is 30%, what is the estimated cost of the merchandise inventory September 30, based on the following data? Sep. 1 Merchandise inventory (at cost) $74,605 Sep. 1-30 Purchases, net (at cost) 182,938 Sep. 1-30 Sales 138,979 Oa. $160,258 Ob. $97,285 Oc. $54,881 Od. $41,694
The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold for the month of March. Inventory, Februray 28, 2018 $450,000 Inventory, March 31, 2018 330,500 Purchase discounts 12,450 Purchase returns and allowances 23,870 sales 276,900 sales discounts 34,660 Gross purchaases 120,400

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