Presented below is information related to Novak Corporation for the current year. Beginning inventory $ 607,100 Purchases
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Presented below is information related to Novak Corporation for the current year.
Beginning inventory $ 607,100
Purchases 1,484,500
Total goods available for sale $2,091,600
Sales revenue 2,530,000 Compute the ending inventory, assuming that (a) gross profit is 49% of sales, (b) gross profit is 60% of cost, (c) gross profit is 37% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answers to 0 decimal places, e.g. 28,987.) Ending Inventory
(a) Gross profit is 49% of sales $
(b) Gross profit is 60% of cost $
(c) Gross profit is 37% of sales $
(d) Gross profit is 25% of cost $
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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