Question: If net sales are 300 000 cost of goods available
If net sales are $ 300,000, cost of goods available for sale is $ 280,000, and gross profit percentage is 35%, what is the amount of ending inventory?
Answer to relevant QuestionsCorey’s Campus Store has $ 4,000 of inventory on hand at the beginning of the month. During the month, the company buys $ 41,000 of merchandise and sells merchandise that had cost $ 30,000. At the end of the month, $ ...Inventory at the beginning of the year cost $ 13,400. During the year, the company purchased (on account) inventory costing $ 84,000. Inventory that had cost $ 80,000 was sold on account for $ 95,000. At the end of the year, ...Using the information in E6-12, prepare journal entries to record the transactions, assuming Soli-tare uses a perpetual inventory system. Info E6-12 Jan. 6 Sold goods for $ 100 to Wizard Inc. with terms 2/10, n/30. The goods ...Inferring Missing Amounts Based on Income Statement Relationships Supply the missing dollar amounts for the income statement of Williamson Company for each of the following independent cases: Using the information in E6-7, prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system. Info E6-7 Jan. 6 Purchased goods for $ 1,200 from Green with terms 2/10, n/30. 6 Purchased ...
Post your question