Century 21 Accounting Multicolumn Journal
9th Edition
ISBN: 9781133466536
Author: Gilbertson
Publisher: Cengage Learning
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Michael's Home Furnishings made Net Sales Revenue of $150,000, and the Cost of Goods Sold (COGS) totaled $90,000. What is the gross profit percentage for this period? a. 50% b. 40% c. 30% d. 60%help
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- Assume Orlando Tech Inc. made sales of $1,120 million during 2022. The cost of goods sold (COGS) for the year totaled $745 million. At the end of 2021, Orlando Tech Inc.'s inventories stood at $260 million, and the company ended 2022 with an inventory of $310 million. Compute Orlando Tech Inc.'s gross profit percentage and rate of inventory turnover for 2022.arrow_forward31.Each month, Act Corporation has $320,000 total manufacturing costs (25% fixed) and $140,000 distribution and marketing costs (40% fixed). Act's monthly sales are $600,000. What is the mark up percentage on full cost to arrive at the target (existing) selling price?arrow_forwardNeed help with this financial accounting question not use ai please don'tarrow_forward
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