- drug rehab cost
- gold to sell
- household goods shipping
Step by step answer please!
1.) A company shows the following balances:
Sales Revenue $2,000,000
Sales Returns and Allowances 360,000
Sales Discounts 40,000
Cost of Goods Sold 1,120,000
What is the gross profit percentage?
2.) When the physical count of Rosanna Company inventory had a cost of $4,300 at year end and the unadjusted balance in Inventory was $4,500, Rosanna will have to make the following entry:
3.) A company just starting business made the following four inventory purchases in June:
June 1 150 units $390
June 10 200 units 585
June 15 200 units 630
June 28 150 units 510
$2,115
A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is:
a.) $1,564.
b.) $668.
c.) $1,447.
d.) $536.
4.) Indrisano's Used Cars uses the specific identification method of costing inventory. During March, Indrisano purchased three cars for $6,000, $7,200, and $9,600, respectively. During March, two cars are sold for a total of $17,300. Indrisano determines that at March 31, the $7,200 car is still on hand. What is Indrisano’s gross profit for March?
1.) A company shows the following balances:
Sales Revenue $2,000,000
Sales Returns and Allowances 360,000
Sales Discounts 40,000
Cost of Goods Sold 1,120,000
What is the gross profit percentage?
2.) When the physical count of Rosanna Company inventory had a cost of $4,300 at year end and the unadjusted balance in Inventory was $4,500, Rosanna will have to make the following entry:
3.) A company just starting business made the following four inventory purchases in June:
June 1 150 units $390
June 10 200 units 585
June 15 200 units 630
June 28 150 units 510
$2,115
A physical count of merchandise inventory on June 30 reveals that there are 200 units on hand. Using the FIFO inventory method, the amount allocated to cost of goods sold for June is:
a.) $1,564.
b.) $668.
c.) $1,447.
d.) $536.
4.) Indrisano's Used Cars uses the specific identification method of costing inventory. During March, Indrisano purchased three cars for $6,000, $7,200, and $9,600, respectively. During March, two cars are sold for a total of $17,300. Indrisano determines that at March 31, the $7,200 car is still on hand. What is Indrisano’s gross profit for March?
Accounting help? Gross profit percentage and LIFO & FIFO Method?
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