Zenith Corporation has sales of $95,000, beginning inventory of $18,000, purchases of $56,000, and ending inventory of $15,000. The cost of goods sold is: A. $74,000 B. $59,000 C. $33,000 D. $41,000
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- Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year, it made net purchases of 180,000 at cost and 322,000 at retail. Johnson nude sales of 300,000. Assuming a price index of 100 at the beginning of the year and 110 at the end of the year, compute Johnsons ending inventory at cost using the dollar-value LIFO retail method.Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet sales were $164,000 and net purchases were $81,000.9. Corrigan’s cost of goods sold for the period isa. $63,000.b. $77,000.c. $85,000.d. $79,000.Bijoux Company has sales of $40,000, beginning inventory of $5,000, purchases of $25,000, and ending inventory of $7,000. The cost of goods sold is: A) $23,000 B) $30,000 C) $40,000 D) $17,000
- The income statement for Gilmore Uniforms shows gross profit of $143,000, operating expenses of $130,000, and cost of goods sold of $219,000. What is the amount of net salesrevenue?a. $362,000b. $492,000c. $273,000d. $349,000Boston Company sells ten items for $1,100 per unit and has a cost of goods sold per unit of $660. The gross profit to be reported for sellling 10 items is? A. $4,400. B. $11,000. C. $440. D. $6,600.Company XYZ has the following information: Beginning Inventory: $20,000 Purchases: $50,000 Ending Inventory: $15,000 Sales Revenue: $100,000 Cost of Goods Sold: $60,000 Calculate the Gross Profit for Company XYZ
- The following information is given about Arab Inc., sales were $500,000 and sales discounts were $50,000. The gross profit rate was 30% of sales. If the cost of goods available for sale for the company is $1,000,000, what is the amount of ending inventory2 OA $700,000 O B. $685,000 OC. None of the above answers O D. $315,000Zhang Company reported Cost of goods sold of $853,000, beginning Inventory of $40,800 and ending Inventory of $48,100. The average Inventory amount is:??
- Safety Company had $45,000 in gross sales, $1,200 in sales discounts, $10,000 in cost of goods sold, $5,500 in selling expenses, $600 in sales returns and allowances, and $7,200 in general expenses. What is Safety Company net sales? a.$35,000 b.$43,200 c.$20,500 d.$33,200Corrigan Corporation had beginning inventory of $20,000 and ending inventory of $24,000. Itsnet sales were $164,000 and net purchases were $81,000.10. Corrigan’s gross profit for the period isa. $79,000.b. $83,000.c. $87,000.d. $164,000.A company has sales of $695,000 and cost of goods sold of $278,000. Its gross profit equals: Multiple Choice $(417,000). $695,000. $278,000. $417,000. $973,000.