- health insurance company
- cash loan advance
- website design cost
Smith Company engaged in the following transactions during 2012:
1) The company paid cash to purchase $5,800 of inventory.
2) The company sold inventory that cost $7,000 for $15,150 cash.
3) Operating expenses incurred and paid during the year, $3,500.
Note: Smith uses the perpetual inventory system.
Smith's gross margin for the year 2012 is?
1) The company paid cash to purchase $5,800 of inventory.
2) The company sold inventory that cost $7,000 for $15,150 cash.
3) Operating expenses incurred and paid during the year, $3,500.
Note: Smith uses the perpetual inventory system.
Smith's gross margin for the year 2012 is?
Accounting homework help?
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