Gen Combo Looseleaf Intermediate Accounting; Connect Access Card
10th Edition
ISBN: 9781260696325
Author: David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher: McGraw-Hill Education
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Gemini Store has operated with a 30% average gross profit ratio for a number of years. It had $112,000 in sales during the second quarter of this year. If it began the quarter with $19,200 of inventory at cost and purchased $73,200 of inventory during the quarter, what is its estimated ending inventory by the gross profit method?
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- Department X had total sales of $92,000, and Department Y had total sales of $48,000. Other office expenses, totaling $3,200, are allocated on the basis of total sales. The amount allocated to Department Y is__. a) $1,250.22 b) $1,051.67 c) $1,480.56 d) $1,097.14arrow_forwardCalculate the total variable cost in June.arrow_forwardWhat is the dollar amount of total assets?arrow_forward
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