Question: 1. Max has provided you with information below and asked you to calculate the COS and Gross Profit for the two items listed. Max began

1. Max has provided you with information below and asked you

1. Max has provided you with information below and asked you to calculate the COS and Gross Profit for the two items listed. Max began the month with no stock of either product. Max's latest stock take revealed that there were 62 units of Product 1 and 8 units of Product 2 still on hand. Product 1 - Clean Power kits are a spare parts option to increase the energy output and fuel economy of existing engines. Each unit now sells for $199 Date Purchases (units) Sales (units) 100 a $80 15 45 35 @ $90 30 25 @ $105 August 3 6 9 11 14 16 18 21 24 26 28 29 31 15 30 45 @ $100 60 @ $120 50 7 (5) @ $100 (Returned) TOTAL 260 192 Product 2 The DIY Clean Air Turbo System is an off the shelf package including everything you need to install a new Turbo system. The packs sell for $2,200 each. Purchases Sales (units) (units) Date Aug 25 @ $1,000 9 5 @ $1,060 1 10 @ $1,092 1 2 3 5 8 12 15 18 21 22 24 26 (2) Returned undamaged 4 7 8 @ $1153.50 7 8 TOTAL 48 40 Calculations

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