30. A purchased goods costing 200000, 8 sold 4/5th of the goods for Rs 250000. Balance goods were taken over by B at cost less 20%. If same sets of books is maintained, find out profit on venture?
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- Q36 Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were sold, what would be the gross amount? Select one: a. R48 000 b. R50 000 c. R40 000 d. R33 333Calculate 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 12000General Merchandising Co. Selling price is P2,750, Selling expenses is P500 and the Cost to sell is P650. The cost of sales is P.1750 and replacement cost P1,500, 47. What is Lower of Cost or Net Realizable Value (NRV)? LCNRV AP1,500. B. P 1.600. C.P 1,750. D. P 2,750 OD O B OC O A
- Calculate gross profit from the following? Sales OMR 50000, Cost of goods sold OMR 30000 and Return inwards OMR 10000. a. OMR 10000 O b. OMR 30000 O c. OMR 20000 O d. OMR 90000.Calculate the gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return inwards OMR 2000.,Return outwards 5000, Purchases 5000 a. OMR 8000 b. OMR 5000 c. OMR 10000 d. OMR 15000what would be the loss or gain if they 13% is lost by selling goods for Rs 1475- goods are Sold for
- he company has these parties of goods on hand: 10x1.000 TL; 20x900 TL; 10x800 TL; 10x700 TL. If 37 items are sold with 20% profit margin (COGS +20% Profit), what is COGS and Sales Revenue in LIFO? a. COGS: 9.400 TL; Sales Revenue: 11.280 TL b. COGS: 33.600 TL; Sales Revenue: 40.320 TL c. COGS: 30.300 TL; Sales Revenue: 36.360 TL d. COGS: 12.700 TL; Sales Revenue: 15.240 TLс. Prepare the T-accounts and post transactions. cost of P500,000. Required: Compute the cost charged to cost of goods sold. b. Calculate the ending balance of cost of goods sold. a. 10/10 ...cost of P500,000. Required: Compute the cost charged to cost of goods sold. а. b.
- 5. The following information pertains to a by-product called Moy: Sales in 2018 5,000 units P6 Selling price per unit Selling costs per unit P2 Processing Costs PO Inventory of Moy was recorded at net realizable value when produced in 2018. No units of Moy were produced in 2019. What amount should be recognized as profit on Moy's 2018 sales?The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000The following information is for Lawrence Company, who uses the LIFO method: NRV Minus Net Normal Realizable Replacement Item Cost Profit Value Cost a $ 3.40 $ 2.79 $ 4.14 $ 4.65 b 36.00 28.80 32.40 27.60 c 2.40 1.32 1.56 1.94 d 6.00 5.55 6.15 6.30 e 24.00 20.40 22.80 21.00 f 13.35 10.55 12.30 12.90 Required:1.) Determine the lower of cost or market for each inventory item. 2.) Now assume instead that the company uses FIFO and the inventory is valued using the LCNRV rule, determine the value of each inventory item.