Candy Company had sales is $320,000 and cost of goods sold of $112,000. What is the gross profit margin (ratio of gross profit of sales)?

Q: During the current year, merchandise is sold for $31,850,000. The cost of the merchandise sold is…

A: Gross Profit: Gross profit represents the revenue after the deduction of cost of goods sold from the…

Q: How is the gross profit percentagecomputed? Illustrate its calculation and interpretationassuming…

A:

Q: American Importers reports net income of S50,000 and sales revenue of S625,000. If the company's…

A: Lets understand the basics. Gross profit rate is a rate generated from the sales of the company . It…

Q: A company has sales of $378,600 and its gross profit is $159,100. Its cost of goods sold equals

A: Cost of Goods Sold means cost incurred by the company to sell the goods to customers. The cost which…

Q: During the current year, merchandise is sold for $366, 100 cash and $1,420,000 on account. The cost…

A: Gross Profit is defined as the profit which the company makes after subtracting the costs linked…

Q: Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million.…

A: The gross profit is calculated by deducting the cost of goods sold from the sales revenue.

Q: For Mortenson Company, the following informationis available: Cost of goods sold £240,000 Sales…

A: Net Sales = Gross Sales - Sales Discount Net Sales = $400,000 - $8,000 Net Sales = $392,000

Q: A company has sales of $763,000 and cost of goods sold of $306,000 it's gross profit equals what?…

A: Gross profit can be calculated by deducting the cost of goods sold from the net sales.

Q: During the current year, the merchandise is sold for 45,870, 000. The cost of the merchandise sold…

A: Introduction: Gross profit: Deduction of cost of goods sold value from the sales value derives the…

Q: During the current year, merchandise is sold for $158,900 cash and $434,900 on account. The cost of…

A: Formula: Gross profit = Sales - Cost of goods sold

Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…

A: Gross profit margin helps in assessing how much the company has after paying all the costs which are…

Q: A company’s net sales were $221,100, its cost of goods sold was $75,800, and its gross profit was…

A: Given: Net sales = $221,100 Cost of goods sold = $75,800 Gross profit = $145,300

Q: Cushman Company had $816,000 in net sales, $357,000 in gross profit, and $204,000 in operating…

A: Cost of Goods Sold = Sales - Gross Profit

Q: During the current year, merchandise is sold for $300,000 cash and for $625,000 on account. The cost…

A: The gross profit is calculated by deducting the cost of goods sold from the sales revenues (Cash +…

Q: During the current year, merchandise is sold for $145,500 cash and $609,300 on account. The cost of…

A: A. Gross profit = Sales - Cost of goods sold = $6,400,000 - $5,376,000 = $1,024,000 B. Gross profit…

Q: RJ Garcia Sound had sales of P600,000 and sales returns of P80,000. Cost of goods sold was P320,000…

A: Gross profit is an excess of revenue over the cost of goods sold. It indicates the profit before…

Q: During the current year, merchandise is sold for $315,800 cash and $1,225,000 on account. The cost…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: Cushman Company had $834,000 in net sales, $364,875 in gross profit, and $208,500 in operating…

A: Gross profit = Net Sales - Cost of goods sold Cost of goods sold = Net sales - Gross profit

Q: Assuming Net Sales is $180,000, Cost of Goods Sold is $79,000, Selling Expenses are $28,500, General…

A: Income from operations are the income that is generated from the daily operations of the business.…

Q: What is the amount of gross profit?

A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…

Q: A company made net sales revenue of $500,000, and cost of goods sold totaled $300,000. Calculate its…

A: When two numerical values are compared with each other, the result is known as a ratio. Ratio…

Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…

A: Gross Profit ratio = [(Sales - Cost of goods sold)/Sales]

Q: During the current year, merchandise is sold for $118,700 cash and $454,300 on account. The cost of…

A: Formula: Gross profit = Sales - Cost of goods sold

Q: During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost…

A: Revenue (Cash) = 366,100 Revenue (Credit) = 1,420,000 Total Revenue = Cash Revenue + Credit Revenue…

Q: During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost…

A: Gross profit can be defined as the excess of net sales revenue over the cost of goods sold. Gross…

Q: During the current year merchandise is sold for $95,500 cash and $1,315,000 on account. The cost of…

A: Sales = Cash Sales + Credit Sales Sales = $95,500 + $1,315,000 Sales = $1,410,500

Q: During the current year, merchandise is sold for $98,300 cash and $644,900 on account. The cost of…

A: Calculate the amount of net sales.

Q: During the current year, merchandise is sold for $54,400 cash and for $81,400 on account. The cost…

A: The difference between the net sales and cost of goods is called Gross profit. Total sales are…

Q: Net Sales of a merchandising company in the current year is $2, 310 million and its Cost of Goods…

A: Gross profit: It can be defined as the excess of a company's sales revenue over the direct expenses…

Q: For a recent year, Best Buy reported sales of $40,339 million. Its gross profit was $9,047 million.…

A: Cost of merchandise sold indicates the costs involved for the inventory sold by the business in a…

Q: sing the financial information presented below:             Operating Expenses  $ 55,000…

A: Answer 1) Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales…

Q: During the current year, merchandise is sold for $21,100 cash and $341,700 on account. The cost of…

A: Gross profit is calculated by deducting the cost of sales from the total sales value. The gross…

Q: Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances…

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

Q: If a retailer has revenues of $700,000, cost of goods sold that total $270,000, and operating…

A: The earning before taxes would be considered without considering the operating expenses. All these…

Q: In the Augie Company, sales were $750,000, sales returns and allowances were $30,000, and cost of…

A: In accounting gross profit refers to the profit that a business earns from selling its products…

Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…

A: Sales = $320,000 COGS = $112,000 Gross profit = Sales-COGS                     = 320,000-112000…

Q: SCC Corporation sells its merchandise at a gross profit of 30%. if the total sales are P 1,200,000…

A: Formula: Gross profit = Sales - Cost of goods sold

Q: Financial information is presented below: Operating expenses $ 42,000 Sales returns and allowances…

A: The income statement represents the net income or net loss that is calculated by deducting the…

Q: What was the amount of Best Buy’s cost of merchandise sold

A: Cost of merchandise sold indicates the costs involved for the inventory sold by the business in a…

Q: Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and…

A: Net sales can be calculated by deducting sales returns and allowances from the gross sales value.

Q: During the current year, merchandise is sold for $50,940 cash and for $83,900 on account. The cost…

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The cost of…

A: Gross profit represents the revenue after the deduction of cost of goods sold from the net sales of…

Q: If a company has sales revenue of $631000, net sales of $500000, and cost of goods sold of $385000,…

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

Q: In the Augie Company, sales were $750,000, sales returns and allowances were $30,000, and cost of…

A: The cost of goods available for sale is the cost that is incurred to produce the goods that are…

Q: During the current year, merchandise is sold for $60,300 cash and for $87,600 on account. The cost…

A:

Q: Quartz Corporation had the following account balances: Sales, $875,000; Sales Returns and…

A: Formula: Gross Profit = Net sales - cost of goods sold.

Q: During the current year, merchandise is sold for $54,900 cash and for $80,900 on account. The cost…

A: Gross profit refers to that part of the profit of the company that it makes after subtracting the…

Q: During the current year, merchandise is sold for $135,800 cash and $406,300 on account. The cost of…

A: Gross profit is considered as the difference between total sale and cost of goods sold.In simple…