If the gross profit is 20% of net sales. How much is the gross purchases for June?     202,000 212,000 222,000 232,000

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Q: Required information [The following information applies to the questions displayed below.] Riverbend…

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A: Variable  cost of goods sold = (386400-359400)/(5900-5400) = 54 Fixed cost of goods sold = 386400…

Q: Net fixed assets" 403,000 Land 49,440 49,600 Total assets 618,000 620,000 30,900 24,800 Notes…

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A: Year   1 0.885 2 0.783 3 0.693 4 0.613 5 0.543 Cumulative 3.517

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A: Answer (a) ending inventory = opening inventory + purchases - sales - loss = 37 + (68+118+83) - 272…