Using a format similar to Exhibit 5 11, calculate net sales, gross profit from sales, and the gross profit ratio (round to two decimal places) Sales Sales discounts 130,000 512,000 35,700 $245,700 3,500 700 76,600 326,700 21,300 125,900 16,500 5,000 4,200 400 17,000 5,000 Cost of goods sold...

Gross profit ratio calculations 1 32200108800 x1002960 2 163800490500 x1003339 3 900 ...

Using a format similar to Exhibit 5.11, calculate net sales, gross profit from sales, and the gross

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Using a format similar to Exhibit 5.11, calculate net sales, gross profit from sales, and the gross profit ratio (round to two decimal places).

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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Question Posted: Mar 08, 2016 07:49 AM

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Using a format similar to Exhibit 5.11, calculate net sales, gross profit from sales, and the gross

Question:

Sales Sales discounts 130,000 512,000 35,700 $245,700 3,500 700 76,600 326,700 21,300 125,900 16,500 5,000 4,200 400 17,000 5,000 Cost of goods sold

Step by Step Answer:

Gross profit ratio calculations 1 32200108800 x1002960 2 163800490500 x1003339 3 900...View the full answer

Fundamental Accounting Principles

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