Suppose this information is available for PepsiCo, Inc. for 2020, 2021, and 2022. (in millions)   2020   2021   2022 Beginning inventory   $2,100   $2,400   $2,500 Ending inventory   2,400   2,500   2,700 Cost of goods sold   19,350   20,825   20,280 Sales revenue   41,000   42,500   42,430         Calculate the gross profit rate for 2020, 2021, and 2022. (Round gross profit rate to 1 decimal place, e.g. 5.1%.)     2020   2021   2022 Gross profit rate   enter percentagesenter percentages %   enter percentagesenter percentages %   enter percentagesenter percentages %

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: Income Statement For the Year Ended April 30, 2020 $7,700,000 Sales revenue Cost of goods sold…

A: Cashflow statement prepared using the indirect method adjust  net income to calculate the cashflow…

Q: Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021…

A: Cost of goods sold means that value of opening stock plus purchases minus closing stock.

Q: The condensed income statement of Nestle Cereal Company is as follows: NESTLE CEREAL COMPANY Income…

A: The ratio analysis helps to analyse the financial statements of the business, so as to know about…

Q: Power Company's income statement for 2021 is given below. If inventory balances are 5000 in 2021 and…

A: Cost of goods sold = 55,000 Inventory balance in 2020 = 9,000 Inventory balance in 2021 = 5,000…

Q: GANDA Co. has a recent gross profit history of 40% of net sales. These data are taken from the…

A: Cost of goods sold = Beginning inventory + Net purchases + Freight in - Ending inventory

Q: Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021…

A: The question is multiple choice question  Required  Choose the Correct Option.

Q: At December 31, 2020, the following information was available from HIBISCUS Company's accounting…

A: We are provided with the cost and the retail price of the goods available for sale. Along with that,…

Q: Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented…

A: RETURN ON ASSET :  = NET INCOME / TOTAL AVERAGE ASSETS

Q: Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented…

A: Profit margin is a ratio which indicated that how much profit has been generated for each dollar of…

Q: VERPOOL Company reported the following amounts: Net income is 7.50% of net sales. On the other…

A: 1. Operating Expenses:- Only freight inwards will be considered as operating expense as sales…

Q: Assume the following are for Bubba Co. for 2019: Sales $980,000; Merchandise inventory January 1,…

A: Sales less Cost of goods sold is gross profit: Gross profit = Sales - Cost of goods sold. First,…

Q: Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented…

A: The term inventory refers to both raw materials used in production and final commodities that are…

Q: The following information is available for Splish Brothers Inc. for three recent fiscal years.…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: Skysong, Inc. reported these income statement data for a 2-year period. 2022 2021 Sales revenue…

A: Skysong Inco. Income Statement. 2021, 2022.   Particulars 2022 2021 A Sales Revenue 255500…

Q: The table below contains selected financial information from recent financial statements of KBI Toys…

A: Formulas: Gross profit ratio = Gross profit / Sales Inventory turnover = Cost of goods sold /…

Q: The following information is available for Miguel Company at December 31, 2020: beginning inventory…

A: Definition:   Inventory turnover ratio: Inventory turnover ratio is used to determine the number of…

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: Data taken from the records of XYZ Co. revealed the following for 2020: Inventory - January 1…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: How to compute this problem?  Problem: The data shown below were obtained from the financial…

A: ‘’Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: 1. For the year ended December 31, 2020, PAMA Company reported the following amounts: Inventory,…

A: Net sales = Operating expenses / 10% = 150000 / 10% = P1500000

Q: What is the net income for 2020 using the FIFO cost method?

A: Inventory valuation can be defined as the computation of the inventory held with the entity at the…

Q: he table below contains selected financial information from recent financial statements of KBI Toys…

A: Financial ratios are used to check different aspects of a company - liquidity, solvency, etc. They…

Q: PRETTY Co. has a recent gross profit history of 40% of net sales. These data are taken from the…

A: Gross profit=Net sale×Rate=P 4,500,000×40%=P 1,800,000

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: The portion of the functional income statements of Brief Company for 2021 and 2020 are presented…

A: Cost of goods sold if unit cost not increased for 2021 = Cost of goods sold / (1 + increased%) =…

Q: This information is available for Kingbird, Inc. for 2017, 2018, and 2019. 2017 2018 2019 Beginning…

A: Sales revenue: It is the revenue earned by a business on selling the goods or providing services to…

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: (in millions) 2020 2021 2022 Beginning inventory $2,000 $2,400 $2,600 Ending inventory 2 400 2 600 2…

A: Inventory refers to all of the items, goods, merch, and materials held by a company for the purpose…

Q: Prepare the operating activities section of the statement of cash flows for the year ended November…

A: Cash flow Statement- This Statement is important as it shows the movement of cash during the period…

Q: The condensed income statement of Nestle Cereal Company is as follows: NESTLE CEREAL COMPANY Income…

A: Earnings per share for 2020 = Net Profit  for 2020 / Number of Ordinary Shares  = $1,103 / 418…

Q: Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 $2,500…

A: Financial statement of any company reveals its financial position in terms of profit and loss and…

Q: This information is available for Novak Corp. for 2018, 2019, and 2020. 2018 2019 2020 Beginning…

A: Inventory turnover ratio is computed by dividing the cost of goods sold by average inventory.…

Q: Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:…

A: The gross profit ratio is calculated as ratio of gross profit and sales revenue

Q: Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented…

A: Accounts receivable turnover = Net Sales / average accounts receivable

Q: ABC Corporation reports the following information for 2020. Based on these figures, what is ABC's…

A: Inventory turnover = Cost of goods sold / Average inventory where, Average inventory = (beginning…

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: During 2020, Liberty Company has the following inventory transactions.   Date Transaction Units…

A: LIFO: In Last-in-first-out it is assumed that the last purchased item will be sold first. So, the…

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: On January 1, 2020, the merchandise inventory of Minaj, Inc. was $1,760,000. During 2020 Minaj…

A: Ending Inventory=Beginning Inventory+Purchases-Cost of Goods Sold

Q: effect on sales due to change in selling price

A: Let number of units in 2020 = x  Let number of units in 2021 = y   Unit cost in 2020 = 1,600,000/x…

Q: Here are the abbreviated financial statements for Planner's Peanuts: INCOME STATEMENT, 2019 $6,000…

A: Here, we have been given Sales and Balance Sheet Data. We would calculate the balancing item as…

Q: Staley Watch Company reported the following income statement data for a 2 year period:   2019…

A: Following is the answer to the given question

Q: Using the information provided below: Rubialac Paints Selected Income Statement Items, 2020 Cash…

A: Cash Sales = $2,500,000Credit Sales = $9,500,000Total Sales = $12,000,000COGS = $7,000,000

Q: Data taken from the records of XYZ Co. revealed the following for 2020: Inventory - January 1…

A: Gross sales are the sales which are computed by adding gross profit to the cost of goods sold. When…

Q: The income statements of Cullumber Corporation show the following amounts:     2020   2019   2018…

A: In common size analysis each item in a financial statement is expressed as a percentage of a base…

Q: Use the financial statements below to answer the question. RED Merchandising Statement of Financial…

A: Interest coverage ratio signifies the amount of earning in terms of interest expense for the period.…

Q: Presented below is information related to Langston Hughes Corporation.   Price 0Index0 LIFO…

A: LIFO Method:   It is an inventory valuation method where the inventory purchased last will be sold…

Q: Lily Technologies Company reported the following income statement data for a 2-year period.…

A: The income statement is one of the essential part of financial statements used for reporting the…

Q: CAC Co. provided these information for 2020: Inventory - January 1 : P400,000; Freight in :…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…