Accounting Fundamentals: Sales Revenue Calculations and Inventory Valuation Methods

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Finance - Personal Finance

jake12testoswi Created by 10 mon ago

Cards in this deck(6)

Calculate the total sales revenue by multiplying the units sold by the _____ price.

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To find the cost of goods sold, subtract the ending inventory from TGAS or multiply units sold by the _____ price.

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Gross profit is calculated by subtracting the cost of goods sold from the _____.

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The gross profit margin is determined by dividing the gross profit by the _____.

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In the FIFO (Periodic) method, calculate the ending inventory by multiplying the remaining units by their respective _____ cost.

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Using the FIFO (Perpetual) method, determine the ending inventory amount and units using the inventory _____ card.

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