Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was £95,000; its gross margin was £22,000, and its sales were £150,000. The ending finished goods inventory was: a. £15,000 b. £2,000 c. £25,000 d. £4,500

Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was £95,000; its gross margin was £22,000, and its sales were £150,000. The ending finished goods inventory was: a. £15,000 b. £2,000 c. £25,000 d. £4,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Revenue is $125,000. Cost of goods sold are $75,000. Calculate gross margin. O 20% O 40% 60% 80%
The Lyons Company's cost of goods manufactured was $120,000 when its sales were $360,000 and its gross margin was $220,000. If the ending inventory of finished goods was $30,000, the beginning inventory of finished goods must have been: a. $20,000 b. $50,000 c. $110,000 d. $150,000
The gross profit margin of the company BIOMETAL was 106.000 euros. The cost of of goods produced was 410,000 euros. The initial stocks of finished products were 65,000 euros and the final stocks of finished products were 72,000 euros. The company's sales amounted to (amounts in euros): 905.000 509.000 475.000 403.000
A company had $270,000 in sales; $150,000 in goods available for sale; ending finished goods inventory of $30,000, and selling and administrative expenses of $65,000. Which of the following statements is true？ 1. Net income was 28% of sales 2. The costs of goods sold was $137,000 3. The beginning finished goods inventory is not determinable. 4. The gross income was $93,000
Evans Company reported the following: Manufacturing costs Units manufactured Units sold Beginning inventory $2,385,000 53,000 40,000 units sold for $100 per unit O units What is the amount of gross profit margin? $2,915,000 $4,000,000 $1,615,000 $2,200,000
The following is the year ended data for Tiger Company: Sales Revenue $58,000 Cost of Goods Manufactured 21,000 Beginning Finished Goods Inventory 1,100 Ending Finished Goods Inventory 2,200 Selling Expenses 15,000 Administrative Expenses 3,900 What is the gross profit? A. $22,100 B. $38,100 C. $19,200 D.
A company’s standard product cost is $9 per unit. Actual production costs were $11 per unit. The firm made 20 units and sold 17 units. The firm’s cost of goods sold was Select one: a. $220. b. $187 c. $153 d. $180