A business achieves a margin of 25% on sales. Opening inventory was $36,000, closing inventory was $56,000 and purchases totalled $600,000. Calculate the sales for the period. A $773,333 B $725,000 C $826,666 D $800,000

am. 05.

Determining Gross Profit During the current year, merchandise is sold for $45,870,000. The cost of the merchandise sold is $33,026,400. a. What is the amount of the gross profit? 12,843,600 b. Compute the gross profit percentage (gross profit divided by sales).   % c. When will the income statement necessarily report a net income?

Income statement data for Winthrop Company for two recent years ended December 31 are as follows:   1   Current Year Previous Year 2 Sales $1,596,000.00 $1,400,000.00 3 Cost of goods sold 1,316,700.00 1,197,000.00 4 Gross profit $279,300.00 $203,000.00 5 Selling expenses $76,950.00 $67,500.00 6 Administrative expenses 55,000.00 50,000.00 7 Total operating expenses $131,950.00 $117,500.00 8 Income before income tax $147,350.00 $85,500.00 9 Income tax expense 11,060.00 7,000.00 10 Net income $136,290.00 $78,500.00       A. Prepare a comparative income statement with horizontal analysis, indicating the increase (decrease) for the current year when compared with the previous year. Round percentages to one decimal place. B. What conclusions can be drawn from the horizontal analysis? Round the answers to one decimal place.

A company reports the following amounts at the end of the year:        Sales revenue $ 390,000   Cost of goods sold   200,000   Net income   55,000       Compute the company's gross profit ratio. (Round your final answer to the nearest whole percent.)   Gross profit ratio: _____%

Anthony Corporation reported the following amounts for the year: Net sales 296,000   Cost of goods sold 138,000   Average inventory 50,000   Anthony's gross profit ratio is: 53.4%. 51.9%. 50.3%. 46.6%. Anthony's average days in inventory is:  70 days. 114 days. 132 days. 151 days. A company's sales equal $60,000 and cost of goods sold equals $20,000. Its beginning inventory was $1,600 and its ending inventory is $2,400. The company's inventory turnover ratio equals: 5 times. 10 times. 20 times. 30 times. [Last question is in the picture attached]