Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances $17,000 Opening inventory at cost $46,000 Billed cost of goods $118,000 Inward transportation $5,400 Cash Discount $6,400 Closing inventory at cost $37,000 Payroll $48,300 * Occupancy $34,000 Wrapping and packing $1,450 Utilities $3,000 Delivery $2,960 Your Answer:

Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances $17,000 Opening inventory at cost $46,000 Billed cost of goods $118,000 Inward transportation $5,400 Cash Discount $6,400 Closing inventory at cost $37,000 Payroll $48,300 * Occupancy $34,000 Wrapping and packing $1,450 Utilities $3,000 Delivery $2,960 Your Answer:

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 46E

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