B1. The following information related to ABC LLC Required: (a) Case 1: Calculating dollar amount of markup and percent markup on cost SignatureTM jeans cost, $ 1800. SignatureTM jeans selling price $ 2300. (b) Case 2: Calculate the selling price Lamp cost, $ 200. 25% margin on selling price (c) Case 3: Calculate the cost price Tennis racket selling price $ 800 40% markup on cost

B1. The following information related to ABC LLC Required: (a) Case 1: Calculating dollar amount of markup and percent markup on cost SignatureTM jeans cost, $ 1800. SignatureTM jeans selling price $ 2300. (b) Case 2: Calculate the selling price Lamp cost, $ 200. 25% margin on selling price (c) Case 3: Calculate the cost price Tennis racket selling price $ 800 40% markup on cost

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter8: Inventories: Special Valuation Issues

Section: Chapter Questions

Problem 11RE: Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year,...

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1. Maintained markup is 42 percent, gross sales are 32,000 O.R, and reductions are 5,000 O.R. What is the initial markup as a percentage? Show calculations: 2. Zara retailer buys each SKU of “Winter Jacket” from its supplier for 80 O.R. and sets a markup percentage of 33.33%, calculate the suggested retail price for this SKU? Show calculations:
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The following relates to a single sale of goods made by Spurs in 2023: Selling price P500,000Freight costs 5,000Terms 3/15, n/30Shipping Date December 28, 2023Date goods received by the customer January 3, 2024Date payment is received by Spurs January 5, 2024 Question:9. If the term is FOB destination, how much sales should be recorded by Spurs for the year ended December 31, 2023? a. P0b. P490,000c. P495,000d. P500,000