1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
irinina [24]
3 years ago
5

Using the following information, what is the amount of gross profit?​

Business
1 answer:
SIZIF [17.4K]3 years ago
3 0

Answer:

Gross profit= $54,700

Explanation:

Giving the following information:

Purchases $37,000

Merchandise inventory, September 1 6,100

Merchandise inventory, September 30 6,800

Sales 91,000

<u>First, we need to calculate the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 6,100 + 37,000 - 6,800

COGS= $36,300

<u>Now, the gross profit:</u>

Gross profit= sales - COGS

Gross profit= 91,000 - 36,300

Gross profit= $54,700

You might be interested in
Jason is an author who works for a variety of publishing companies. One of them recently informed him that they will no longer b
IrinaVladis [17]

Answer:

Problem focused

Explanation:

A stressor is factor the causes strain or tension for the individual that is experiencing it.

There are different strategies that is used to solve stressful situations: avoidance, emotion-focused, problem-focused, withdrawal.

The problem focused strategy involves efforts aimed at removing or reducing the cause of a stressor.

In the given scenario Jason has financial hardship that results from less need from his services.

He focused on the solving the cause of the problem by contacting the other publishers and accepting additional projects to compensate for the lost income.

4 0
3 years ago
What does it mean to do time analysis which is one of the principles referred to ?
Whitepunk [10]
Data Analysis - Process. Data Analysis is a process of collecting, transforming, cleaning, and modeling data with the goal of discovering the required information. The results so obtained are communicated, suggesting conclusions, and supporting decision-making.
3 0
3 years ago
Which one of the following statements is TRUE? a. Company sponsorship of a local charity is an example of a nonpecuniary benefit
mojhsa [17]

Answer: c. An inside director is a board member who also holds a managerial position in the company

Explanation:

Inside Directors are indeed Board members who are employees/ hold managerial positions in the company.

They are in a unique position to help the board in Corporate Governance because as they are on the ground, they have specialized knowledge of the company and as such can provide complete information to the Board.

They typically include a Company's top executives such as the CEO, CFO and the COO.

5 0
3 years ago
Why would you want to limit your borrowing when making economic decisions ?
Yanka [14]

Answer:

so they can end up spending less on interest payments and credit card fees.

Explanation:

4 0
3 years ago
FIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending Ju
Zinaida [17]

Answer:

$32,864.00

Explanation:

check the file attached below for full explanation

Download docx
4 0
3 years ago
Other questions:
  • To manage a diverse organization effectively, managers should first:
    6·1 answer
  • Susan purchases and places in service property costing $1,050,000 in 2019. She wants to elect the maximum Sec. 179 deduction all
    5·1 answer
  • A company’s weighted average cost of capital is 10.8% per year and the market intrinsic value of its debt is $33.1 million. The
    8·1 answer
  • Suppose that the public holds 50% of the money supply in currency and the reserve requirement is 20%. Banks hold no excess reser
    9·1 answer
  • Jones Excavation Company is planning an investment of $125,000 for a bulldozer. The bulldozer is expected to operate for 1,000 h
    8·1 answer
  • purchased inventory for $ 4 comma 500 and also paid a $ 290 freight bill. Corner Market returned 40​% of the goods to the seller
    5·1 answer
  • If you were to sit in a local fast-food restaurant and record what people ordered, you would be using
    14·1 answer
  • Christine and Doug are married. In 2014, Christine earns a salary of $250,000 and Doug earns a salary of $50,000. They have no o
    9·1 answer
  • Jeremy earned $100,000 is salary and $6,000 in interest income during the year. Jeremy's employer withheld $11,000 of federal in
    9·1 answer
  • How does adaptability assist a school leaver to become a successful business owner
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!