The following totals appear in the day books for March 20X8. $ Sales day book 40,000 Purchases day book 20,000 Returns inwards day book 2,000 Returns outward day book 4,000 Opening and closing inventories are both $3,000. What is the gross profit for March 20X8? A $22,000 B $24,000 C $20,000 D $18,000

Q: From the following information regarding the year to 31 August 20X6, what is the payables' payment…

A: We have the following information: Sales: $43,000 Cost of sales: $32,500 Opening Inventory: $6,000…

Q: What is the​ company's estimated ending inventory for the​ month

A: Answer:   Option C

Q: Following are data for December 31,2021: $5,365,000 Net sales Cost of sales, and related buying…

A: The ratio analysis helps to analyze the financial statements if the business.

Q: he sales of Super Store for the month is P 80,756.00. Beg Ending inventory is amounting to P…

A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: 4) The following data are for Montgomery Retail Outlet Stores. The account balances (in thousands)…

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

Q: Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of…

A: Formula: Cost of goods sold = Beginning Inventory + Purchases - Ending Inventory

Q: Find the gross margin as a percentage amount. Gross Sales $230,000 Customer Returns and Allowances…

A: Gross margin is the excess of revenue over the cost of goods sold and gross margin percentage is…

Q: The following information appeared in the accounting records of a retail store for the year ended…

A: Answer) Calculation of Gross Margin Gross Margin = Sales – Cost of Goods sold – Sales Commission…

Q: Cost of goods sold $70,000 Insurance Expense $5,000 Freight-out 4,000 Sales Revenue 184,000 Interest…

A: Income statement is the financial statement that  shows revenue and expenditure incurred by a…

Q: From the following information regarding the year to 31 August 20X6, what is the accounts payable…

A: Given the following information: Sales: $43,000 Cost of sales: $32,500 Opening inventory: $6,000…

Q: The Company provided the following information: Cost Retail Beginning 1,650,000 2,200,000 Inventory…

A: Inventory represents the current asset of the company that is reported in the balance sheet.

Q: Calculate the amount of: (a)Cost of goods available for sale (b)Cost of goods sold during the year…

A: Introduction: The cost of goods sold refers to the direct costs of manufacturing the commodities…

Q: Following are data foE Net sales $5,365,000 Cost of sales, and related buying costs Accounts…

A: The ratio analysis helps to analyze the financial statements of the business.

Q: On March 5, Blowout Sales makes $22,500 in sales on account. The cost of the merchandise sold is…

A: Given, Sales = $22,500 Cost of merchandise sold = $16,825

Q: 5,500 @ ksh. 49 7 4,000 @ ksh. 50 11 7,000 @ ksh. 61  12 5,000 @ ksh. 50  13 6,000 @ ksh. 47…

A: Inventory valuation is the techniques of valuing the inventory in the store so as to maintain a…

Q: 3. During September an organisation had sales of £148,000, which showed a gross profit of £40,000.…

A: The term stock refers to tangible property held for sales in the ordinary course of business or for…

Q: 28. Kokong Company provided the following information for the current year: P 2,100,000 Accounts…

A: Inventory means the goods in which business deals. Inventory can be calculated by preparing the…

Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…

A: Formula used: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: Auto's Body Shop had the following costs associated with new inventory purchases for the month of…

A: Inventory includes raw material, work-in-process and finished goods inventory. Inventory shows goods…

Q: Flint’s Fabrics sold merchandise for $185000 cash during the month of July. Returns that month…

A: Formula: Net Sales = Total sales - sales returns. Deduction of sales returns from total sales…

Q: Financial information is presented below: Operating Expenses $ 90,000 Sales Returns and 26,000…

A: The gross profit margin is calculated as gross profit divided by net sales revenue. Gross profit =…

Q: ry on Feb. 1 $280,000 $435,000 Net sales

A: Closing Inventory is the stock at the end of the closing period held by the entity. Markup percent…

Q: Use the following information for the next two questions: ABC Co. bills its branch for merchandise…

A: Branches are working for the home office as an agent. all the resources are provided by the home…

Q: On February 15, ABC Company sold $50,000 of merchandise on credit, 3/10, n/30. The merchandise has a…

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

Q: Sales(all credit sales) Purchases(all credit purchases) Wages Manufacturing Expenses Office…

A: Cash Budget is a schedule showing the inflows and outflows of cash in a financial period. Such cash…

Q: The University Store, Inc. is the major bookseller for four nearby colleges. An income statement for…

A: Number of books sold = Sales / Selling Price per book = $800,000 / $40 = 20,000 books Variable…

Q: A business has compiled the following information for the year ended 31 October 20X2: $ Opening…

A: Sales revenue = Cost of goods sold /  ( 1 - Gross profit rate )

Q: On February 15, ABC Company sold $50,000 of merchandise on credit, 3/10, n/30. The merchandise has a…

A: Sales of goods means transfer of ownership of goods to some other person. It can be on cash or on…

Q: Account Name Debit Credit Sales 750,000 Sales Returns and Allowances 15,000 Sales Discounts 10,000…

A: Lets understand the basics. Profit means a all the income less all the expense during the period.…

Q: Oman Garments sells garments for an average of OMR 12 and which cost OMR 9 This results in…

A:

Q: Conrad Company reported the following balances at June 30, 2015: $16,200 Sales Revenue Sales Returns…

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

Q: Russell Retail Group begins the year with inventory of $55000 and ends the year with inventory of…

A: Formula: Cost of goods sold = Beginning inventory +Net purchases - Ending Inventory

Q: The records of Hot’s Department Store report the following data for the month of January:…

A: Retail Inventory Method : In calculates the ending inventory value by finding the total value of…

Q: A company begins the year with inventory of $52,000 and ends the year with inventory of $42,000.…

A: Formula: Cost of goods available for sale = Beginning inventory + Purchases

Q: . Bulk Wholesalers took in $378,800 in sales during July. They started the month with inventory…

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

Q: The sales of Super Store for the month is P 80,756.00. Beginning inventory was P 24,435.00; and…

A: Formula: Cost of goods sold = Beginning inventory + Purchases - Ending inventory

Q: uring September an organisation had sales of £148,000, which showed a gross profit of £40,000.…

A: Solution: Sales = 148,000 Gross profit = 40,000 Cost of goods sold = Sales - Gross profit

Q: business has compiled the following information for the year ended 31 October 20X2: $ Opening…

A: Formula: Cost of sales = Opening inventory + purchases - closing inventory Deduction of closing…

Q: Sales revenue are $110,000. Purchases are $80,000. Beginning balance of inventories are $12,000.…

A: Inventory days using average inventories are 48.96 days Refer step 2 for explanation

Q: Russell Retail Group begins the year with inventory of $55,000 and ends the year with inventory of…

A: Calculation of total purchase: Particulars Amount Purchase on February 17 $210,000 Purchase…

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

A: Formula: Gross Profit = Net Sales – Cost of Goods Sold Gross Profit = (Sales – Sales returns and…

Q: The following totals appear in the day books for March 20X8. $ Sales day book 40,000 Purchases…

A: We have the following information: Sales day book: $40,000 Purchases day book: $20,000 Returns…

Q: 2. A gift store reported the following records for its operation during the month of February. @Cost…

A: Closing Inventory is the stock at the end of the closing period held by the entity. Markup percent…

Q: Keep Calm Company provided the following information for the current year: Accounts receivable,…

A: Solution: Sales during the year = Ending accounts receivable + collection of accounts - beginning…

Q: Presented below is information for OB Company for the month of April 2019. Cost of goods sold…

A: Gross Profit Rate = (Gross profit / sales) x 100 (68,500/174500)×100=39%

Q: Use the following to answer questions 18 – 21 BY Ic., begins the year with inventory of $36,500 and…

A: Net sales = Sales - Sales returns and allowances Cost of goods sold = Beginning inventory +…