Answer: 63.6%
Explanation:
Given that,
Cost:
Beginning inventory = $ 66,000
Net purchases = $280,000
Total of cost = Beginning inventory + Net purchases
= $66,000 + $280,000
= $346,000
Retail:
Beginning inventory = $104,000
Net purchases = $420,000
Net markups = $20,000
Total of Retail = Beginning inventory + Net purchases + Net markups
= $104,000 + $420,000 + $20,000
= $544,000
Cost to retail percentage =
=
= 63.6%
Answer:
I think its a dental practice.
a recession is usually 9 to 18 months
Answer:
$222,450
Explanation:
Computation of annual income statement for Kvass Inc. is shown below
Sales revenue
$4,887,000
Less:
Selling and admn expenses
($1,052,000)
Other expenses
($249,300)
Advertising and promotion expenses
($553,350)
Salaries and wages expenses
($2,527,800)
Income tax expenses
($167,350)
Interest expense
($114,750)
Net income
$222,450