A large retailer reported revenue of $1,665,000. The companys gross profit percentage was 44 percent. What amount

Question:

A large retailer reported revenue of $1,665,000. The company’s gross profit percentage was 44 percent. What amount of cost of goods sold did the company report?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 978-0078111020

7th Edition

Authors: LibbyShort

See More Books

Question Posted: Dec 12, 2011 09:22 AM

See More Questions

In 20X3, T Co.\\\'s gross profit percentage was 39.8% while their competitor, WWW\'s percentage was 31.8%. What was the most likely reason for WWW\\\'s lower percentage? A) Ability to differentiate...
Required: 1. Prepare common-size comparative income statements for the two years for Beach Motors (Pty) Ltd. (11) 2. What observations can you make about the common-size statements? List at least...
Preparing a statement of cash flows for the following data below. Here is the information: Presented below are the comparative balance sheets for Gordon Company at December 31, 2013, and 2012. GORDON...
The following list of balances has been extracted from the records of company cowgale co as of 31 October 2017 the end of the most recent financial year. Notes 1. The balance on the corporation tax...
Identify five users of accounting information and explain how they use it.
Perform the indicated operations 2y 7y + 9y 2 + 5/2y 1
Describe the relationship between dynamic modeling, behavioral modeling, and structural modeling.
Elijah Inc. produces accent stripes for automobiles in 50-inch rolls. Each roll passes through three departments (Striping, Adhesion, and Packaging) before it is ready for shipment to customers....
You purchase one Blue Bell Inc. September 120 put contract for a premium of $3.17. You hold the option until the expiration date when Blue Bell stock sells for $128.84 per share. Calculate gain/loss...
Richard chooses technique 0 and 2 requiring 10+10-20 efforts and provising 10+11=21 benefits. Hence, 21 is returned as the output Example 2: input1: 3 input2: (10,10,10,10) input3: (10,11,12,15)...
(Multiple choice) 1. A company has total assets of $500,000 and noncurrent assets of $400,000. Current liabilities are $40,000. What is the current ratio? a. 12.5 b. 10.0 c. 2.5 d. Cannot be...
A consumer products company reported a 5.4 percent increase in sales from 2011 to 2012. Sales in 2011 were $29,600. In 2012, the company reported cost of goods sold in the amount of $9,107. What was...
Many psychology students believe that they do not need to know about research methods because they plan to pursue careers in clinical/counseling psychology. What argument can you provide against this...
What types of positions in what types of industries might each of the eighteen inventories be used to assess? Explain the relationship between training and organizational development. How might each...
What is the labor productivity if 3 workers who worked for half an hour daily for 6 days are able to install 200 meters of carpet? 2. Having a defect of 1200pcs from the 10,000 pcs submitted to...
Why is affirmative action such a controversial issue? Is society better served with or without affirmative action? In small groups, take a position either in favor of or against affirmative action...
To what extent do cultural norms influence how other societies and cultures deal with the issue of sexual harassment in the workplace? What are the pros and cons of mediation for an employer? What...
How does the marketing strategy (target segment, value proposition, and marketing mix) of Amazon online and Walmart Supercenters differ in the U.S. market? 2. What are the distinctive capabilities...
Compare the quality awards.
The baseball player A hits the ball from a height of 3.36 ft with an initial velocity of 34.8 ft/s. 0.14 seconds after the ball is hit, player B who is standing 15 ft away from home plate begins to...
State the number of atoms for each of the following metals. (a) 63.55 g Cu (b) 40.08 g Ca
In its income statement for the year ended June 30, 2009, The Clorox Company reported the following condensed data (dollars in millions). Selling and Research and administrative expenses .... $ 715...
The trial balance of Pollard Company at the end of its fiscal year, August 31, 2012, includes these accounts: Beginning Inventory $18,700; Purchases $154,000; Sales Revenue $190,000; Freight-in...
Below is a series of cost of goods sold sections for companies A, F, L, and V. InstructionsFill in the lettered blanks to complete the cost of goods soldsections. A. L. Beginning inventory Purchases...
You are a supervisor at your company. You've overheard Employee A making offensive comments to other employees, and Employee B has complained about these comments. You've given Employee A a verbal...
What is the probability of developing and dying from cancer today?
On January 1, 2024, Majestic Mantles leased a lathe from Equipment Leasing under a finance lease. Lease payments are made annually. Title does not transfer to the lessee and there is no purchase...

A large retailer reported revenue of $1,665,000. The companys gross profit percentage was 44 percent. What amount

Question:

Step by Step Answer:

Gross Profit 1665000 44 Gro...View the full answer

Financial Accounting

Students also viewed these Accounting questions