Consider the following data: Sales -- P 100,000; Gross Profit rate based on sales -- 30%; Goods Available for Sale -- P 90,000. Compute: FINISHED GOODS, ENDING
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- Given the following information regarding to a recent period's operations: Sales - P? Beginning finished goods inventory - P12,000 Cost of goods manufactured - P36,000 Ending finished goods inventory - P6,000 Cost of goods sold - P? Gross margin - 40% of Sales Administrative and selling expenses_P10,000 Net operating income - P? Determine the following: • cost of goods sold • cost of goods available for sale • net operating income • gross margin • salesCalculate the gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return inwards OMR 4000, Return outwards 2000, Purchases 5000.If cost of goods sold is $520,000 and the gross profit rate is 20%, what is the gross profit? Select one: a. $2,600,000. b. $130,000. c. $ 520,000. d. $416,000.
- How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming Net Sales is $100,000 and Cost of Goods Sold is$60,000.Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return inwards OMR 2000 a.OMR 4000 b.OMR 10000 c.OMR 12000 d.OMR 6000
- If net sales is $373,000 and cost of goods sold is $223,800, what is the gross profit and gross margin percentage? Please avoid image based answers thank youWhat are the following amounts for the year ended 2/1/20: Net Sales _________ Cost of Goods Sold ____________ Gross Margin ____________ Gross Margin Percentage ____________ Operating Income ____________ Net Income ____________If Sales revenue is SR 26,000, beginning finished goods inventory is SR 8,000, ending finished goods inventory is SR13,500, and cost of goods manufactured is SR15,600, find out cost of goods sold
- The following information relates to CEE Company: (Refer to image). Assume that the company uses the average cost approach. What is the cost ratio? Express your answer in percentage and round up to two decimal points. * Retail Cost 500,000.00 Inventory, 12/31/2021 725,000.00 Purchases 1,285,000.00 2,220,000.00 Purchase returns 20,000.00 35,000.00 Purchase discounts 30,000.00 Sales (after employee discounts) 2,450,000.00 Sales returns 125,000.00 Sales allowances 70,000.00 Mark-ups Mark-up cancellations 160,000.00 70,000.00 Mark-down 65,000.00 Mark-down cancellations 32,000.00 Freight in Employee discounts Normal loss from breakage 65,000.00 15,000.00 10,000.00Calculate net sales based on gross sales of $805,000; sales returns of $5,400; and sales discounts of $15,700. Calculate cost of goods sold based on $82,400 beginning inventory: $264,000 cost of goods purchased; and $94,800 ending inventory. Refer to Problems 7 and 8. Calculate gross profit.Compute the following transactions using multi-step income statement 1. Calculate Net Sales and Gross Profit if, Sales are Php 375,000, Sales Returns and Allowances arePhp32,000, Sales Discounts are Php 12,000 and Cost of MerchandiseSold is Php 255,000.