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ankoles [38]
4 years ago
5

Gross Profit Method

Business
1 answer:
AveGali [126]4 years ago
5 0

Answer:

The answer is $119,000

Explanation:

cost of merchandise sold = Sales - Gross profit.

To find gross profit:

Gross profit rate x sales

0.42 x $1,450,000

= $609,000.

Now to calculate Cost of Sales:

Cost of Sales = Sales - gross profit

$1,450,000 - $609,000

$841,000

Now to calculate Estimated ending merchandise inventory:

Beginning merchandise inventory + purchases - cost of sales

=$100,000 + $860,000 - $841,000

=$119,000

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Answer:

e. all of the above

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3 years ago
Donald and Charlene are married and do not have any children. They plan to ensure that the other will not be unduly burdened by
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Irish Corporation issued (sold) 15,000 shares of common stock for $65 per share. The bylaws established a stated value of $5 per
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3 0
3 years ago
F a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the appropr
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zloy xaker [14]

Answer: A.) $32.64 per machine hour

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