Answer:
Net Sales a. $ 150,000, b. $ 902,500, c.$ 50,600, d.$ 268,500
Gross Profit a. $ 50,850 b. $ 344,755 c. $ 11,638 d. $ 139,083
Gross Margin ratio a. 33.9 %, b. 38.2 %, c. 19.9 %, d. 51.8 %
Explanation:
Computations of data requirements
a b c d
$ $ $ $
Sales 169,000 930,000 57,000 276,000
Less: Sales discounts ( 4,000) ( 21,500) ( 600) ( 5,300)
Less Sales return and allowances <u>( 15,000) ( 6,000) (5,800) ( 2,200)</u>
Net Sales 150,000 902,500 50,600 268,500
Cost of Goods Sold <u> 99,150 557,745 38,962 129,417</u>
Gross Profit 50,850 344,755 11,638 139,083
Gross Margin Ratio % 33.9 % 38.2 % 19.9 % 51.8 %
