Calculate the following: APPLE Mark-up 25 Percent Sales N$ 50 000 Inventory 01.03.2019 N$ 13 800 Inventory 29.02.2020 N$ 7 450 Total Expenses N$ 9 500 Calculate: Gross Profit, Purchases, Cost of Sale and Net Profit?

Q: The Cadet Company shows the following information for 2020: conl th Cost Retail Beginning inventory…

A: The retail inventory method is used to estimate the value of ending inventory at cost with regards…

Q: For the year ended 2012 Wendy's Retail Store's Net income is PI50,000 (10% of Net Sales). Operating…

A: Formulas: beginning merchandise inventory = Cost of sales x 20% where, Cost of sales  = Net sales -…

Q: Richard's sales in the year ended 31st December 2019 were RM390,000. The sales produced a gross…

A: Solution- Stock value = Purchase* 90/365=closing inventory      purchase         = 54000 * 365/90…

Q: Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions)…

A: Inventory turnover = Cost of goods sold / Average inventory Average inventory  = (Beginning…

Q: Selected data for ABC Co. for 2020 are as follows: Decrease in merchandise inventory: P20,000…

A: Formula: Cost of goods sold = Disbursements for purchases + Decrease in inventory + Increase in…

Q: Capital Technologies Inc. began 2020 with inventory of $20,000. During the year, Capital purchased…

A: Inventory Beg bal  $   20,000 JE 3  $20,000 JE4  $   30,000     End bal  $   30,000…

Q: 1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost…

A: Opeining inventory + purchase = Cost of Sales + Closing inventory

Q: On January 1, 2020, the merchandise inventory of Crane, Inc. was $2150000. During 2020 Crane…

A: The cost of goods sold represents the cost value of the inventory that is sold during the period.…

Q: 3. Hardy Company is a wholesale electronics distributor. On December 31, 2020, it prepared the…

A: The ending inventory balance can be computed with the help of cost of goods sold equation

Q: Prepare an income statement for Hansen Realty for the year ended December 31, 2020. Beginning…

A:

Q: Kelcie Sports uses the dollar-value LIFO retail method. The price index on January 1, 2019, was 100,…

A: The retail method uses the cost to sales ratio for calculation the value of inventory. The value of…

Q: 11. Trump Incorporated reported the following data for the year 2019, 2020 and 2021 2019 2020 2021…

A: In 2019, journal entry for loss on inventory write down will be made like this:- Allowance for…

Q: n, in roper soid, and gross profit for the year ended December 31, 2020 using the data. Write your…

A: Solution: Gross profit = Net Sales - Cost of goods sold Net Sales = Gross sales - Sales returns and…

Q: what is the cost of goods sold, if opening stock is #40,000, purchases #130,000, closing stock…

A: Cost of goods sold is actual cost of goods that is being sold to the customers.  Cost of goods sold…

Q: A company that purchases inventory costing $10,000 onterms 2/10, n/30, but first returns one-half of…

A: Purchase return = Total purchases  x 1/2 = $10,000 x 1/2 = $5,000

Q: Required: Prepare correct income statement data for the two years. What is the cumulative effect of…

A: Given- Ending inventory  at December 31, 2019 was overstated  $5,000 So, correct value of ending…

Q: calculate the following Apple Mark -up                               25% sales…

A: Gross profit = Sales * Mark up = 50,000 * 25%  = $ 12,500

Q: Calculate the following   Apple Mark - up                          25% Sales…

A: Calculate the amount of gross profit.

Q: Current Attempt in Progress You assemble the following information for Tamarisk Department Store,…

A: a) Cost of the inventory on December 31, 2020 Cost of Inventory on December 31, 2020 $    676,890…

Q: First question/ you have the following data about Basra Trading Company for its first year ending on…

A: Financial Statements are the end products of the accounting process. They provide information about…

Q: Use the following income to answer all questions in this section: Music, Inc. had the following…

A: Cost of goods manufactured = Beginning WIP + Total manufacturing costs - Ending WIP Cost of goods…

Q: Oriole Company had January 1 inventory of $291000 when it adopted dollar-value LIFO. During the…

A: Gross Profit = Sales - Cost of goods sold   Cost of goods sold = Beginning inventory + Purchases -…

Q: The following data were taken from the financial records of Crane Company. Net Sales Beginning…

A: Average inventory = Beginning inventory+ Ending inventory 2                               2021 =…

Q: How much is the 2020 Cost of goods sold? *

A: Formula: Cost of goods sold = Disbursements for purchases + Decrease in inventory + Increase in…

Q: Gross profit margin ratio: net sales- cost of goods sold/ net sales 386,064- 233,307/ 386,064=…

A: Financial Analysis: Financial analysis is the process of assessing the performance and…

Q: GB SalesRevenue                      16800    Purchases                            12800 Gross…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions)…

A: The Numerical has covered the concept of Gross Profit Rate. Gross Profit is the difference between…

Q: Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions) 2020…

A: The Inventory Turnover  is computed using the following formula: - Inventory Turnover = Cost of…

Q: In 2020, Billy's Seafood reported the following: Inventory, January 1, 2020:          $50,000…

A: The net sales can be calculated by deducting sales return and allowance from gross sales and also…

Q: Calculate the following: Company A Mark -  up                             25 percent Sales…

A: Gross profit is the difference between sales and the cost of sales. Mark up is always calculated on…

Q: The following information relates to the Jimmy Johnson Company. Date   Ending Inventory…

A: Statement for computation of Change in Inventory (Amt $) Date Inventory at the end of year…

Q: Below is information related to Company's Inventory: Units Price per Unit Total *** ********** ****:…

A: Average cost per unit = Cost of goods available for sale/Total units available for sale

Q: Condy Co. paid suppliers of merchandise inventory $700,000 during 2020. During 2020, inventory…

A: Purchases = Ending accounts payable + Amount paid - Beginning accounts payable = $38,000 + $700,000…

Q: Noah’s ark video games expects sales to grow by 25% next year. Assume that it pays out 95% of its…

A: Inventory in year 0 = 5000 Sales = 320000 % of inventory based on sales = 5000/320000 x 100 = 1.56%…

Q: 31, 2019. Sales P1,800.000.00 40,000. 00 12,000 00 Interest income Gains Inventory, Beginning…

A: Hi student Since there are multiple subparts, we will answer only three subparts.

Q: The following information was available for Concord Company at December 31, 2020: beginning…

A: Inventory turnover = cost of goods sold/Average inventory

Q: If firm’s beginning inventory is $70,000, purchases are $320,000, and the cost of good sold is…

A: Cost of goods sold is the actual cost of goods that are being sold to the customers. This is also…

Q: 1. Selected data for ABC Co. for 2020 are as follows: Decrease in merchandise inventory: P20,000…

A: Answer 1: Cost of Goods Sold = Beginning Inventory + Purchases – Ending Inventory Cost of goods…

Q: Assume that gross profit averages 40% for RAMCO.  If sales are $1,600,000 and sales returns are…

A: Here, We need to calculate the estimated Cost of Goods sold using average Gross profit %. It can be…

Q: Cost Retail Inventory, Jan. 1, 2020 $ 38,700 $ 60,000 Markdowns (net) 13,200 Markups (net) 21,800…

A:

Q: dollar-value LIFO method

A: Year Inventory  (end Year) (Actual Cost) Price Index nventory  (end Year) (base year Cost)…

Q: The expenses other than interest expense of Ratio Company for the current year is 40% of cost of…

A: First of all, profit before tax shall be calculated so that other items could be find accordingly.

Q: Selected financial statement data from Western Colorado Stores is shown below. 2021 2020 Net sales…

A: Gross  profit ratio = Gross profit / sales

Q: The following figures are for the year 2020: Inventory 1.1.2020​​​  $4000 Inventory 31.12.2020​​​…

A: The gross profit is calculated as difference between sales and cost of goods sold.  Cost of goods…

Q: Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions)…

A: Inventory Turnover Ratio = Cost of goods sold/ Average Inventory Averag Inventory = (Beginning…

Q: The expenses other than interest expense of Ratio Company for the current year is 40% of cost of…

A: First of all we should try to calculate profit before tax by using the formula: = Profit after tax /…

Q: Compute number of days sales in inventories. * 2020 2019 Sales 1,000,000.00 800,000.00 Cost of goods…

A: Inventory turnover is the average amount of time a company keeps its inventory before selling it.…

Q: 1- Hani has an inventory at 1/1/2020 of €60,000 and purchases during 2020 of €280,000, both at cost.…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Coleman, Inc. provides the following data from its Income Statement for 2018: Net Sales  $…

A: Gross Profit Ratio : It is one of the profitability ratios which shows the relationship between the…