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Reika [66]
3 years ago
5

Assume that Sandhill Co. uses a periodic inventory system and has these account balances: Purchases $420,800; Purchase Returns a

nd Allowances $11,900; Purchase Discounts $8,100; and Freight-in $17,700. Sandhill Co. has beginning inventory of $58,100, ending inventory of $92,600, and net sales of $643,000. Determine the amounts to be reported for cost of goods sold and gross profit.
Business
1 answer:
ivolga24 [154]3 years ago
6 0

Answer:

Cost of goods Sold = $384,000

Gross Profit = $259,000

Explanation:

Cost of goods sold = Opening Inventory + Net Purchase - Closing Inventory

Opening Inventory = $58,100  Closing Inventory = $92,600

Net Purchases = Purchase - Purchase Return - Discounts + Freight in

Freight in forms part of cost of purchase because without this expense inventory cannot be bought in.

Net Purchases = $420,800 - $11,900 - $8,100 + $17,700 = $418,500

Cost of goods Sold = $58,100 + $418,500 - $92,600 = $384,000

Gross Profit = Sales - Cost of Goods Sold

= $643,000 - $384,000 = $259,000.

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Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the
Eduardwww [97]

Answer:

Net operating income= 4,134

Explanation:

Giving the following information:

Hailey, Inc., has sales of $19,570, costs of $9,460, depreciation expense of $2,130, and interest expense of $1,620. Assume the tax rate is 35 percent.

Sales= 19,570

COGS= 9,460

Gross profit= 10,110

Depreciation expense= 2,130

Interest expense= 1,620

EBT= 6,360

Tax= 2,226

Net operating income= 4,134

8 0
3 years ago
Which of the following is included in the investment component of GDP? a. households’ purchases of newly constructed homes.
Anni [7]

Answer:

"D" is the correct answer.

All of these.

Explanation:

NOTE: in this question, options part is missing, The option for the following question is :

b. Additions to business stock

c. firms' buy of equipment

d. All of the above

Gross Domestic Product is the overall financial or retail value of all completed production of goods and services in a specific period within a country.

formula to calculate GDP is as follow

GDP = C + I + G + NX

where C stands for Private consumption.

           I stands for investment

          G stands for government consummation

          NX for net export (total export - total import)

GDP use to calculate countries total gross production during a particular year.

4 0
3 years ago
A company must decide between scrapping or reworking units that do not pass inspection. The company has 13,000 defective units t
gregori [183]

Answer:

A.Incremental income(loss)

Sales as scrap $39,000

Rework $41,600

B.The company should REWORK

Explanation:

A. Sales as Scrap Rework

Sales of scrap units ($13,000×3.00)

$39,000

Sales of rework units ($13,000×8.20)

$106,600

Cost to rework units($13,000×5.00) $65,000

Incremental income(loss)

$39,000 $41,600

B.Therefore the company should REWORK

($106,600-$65,000)

=$41,600

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BRAINLIEST REWARD
iren2701 [21]
1, 2, 3 I think would all be things she lost. Hope this helps!
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