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* Course Hero x 5 Book Discount Request X III Module 2 Overview: Account X 5 Question 1 - Chapter 5 Assig X 5 Exercise 5-13.docx X + X C 2 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252Fstudent%252Fclass%2... L . . . Chapter 5 Assignment Saved Help Save & Exit Submit Exercise 5-14 Markups-perpetual LO6 Kim works at a sports store and needs to determine the selling price for running shoes. The running shoes have a cost of $80. The manager asked Kim to price the running shoes with a 60% target gross margin. Kim has priced the running shoes with a 60% markup percentage. 6 points Required: 1. What selling price does the manager want? References Selling price 2. What selling price has Kim calculated? Selling price Mc Graw Hill O Type here to search P of A D ( () ENG 09:14 UP T.To/.9/15* Course Hero x 5 Book Discount Request X III Module 2 Overview: Account X 5 Question 1 - Chapter 5 Assic X 5 Exercise 5-13.docx X + X C 2% ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252%252Fnewconnect.mheducation.com%252Fstudent%252Fclass%2... * L Chapter 5 Assignment i Saved Help Save & Exit Submit 6 2. What selling price has Kim calculated? points Selling price References 3. If there are 46 running shoes, how much will the store lose in sales if the price is not corrected? Loss in sales Mc Graw Hill O Type here to search P of A 1 (() ENG 09:14 UP T.To/.9/15* Course Hero x 5 Book Discount Request X III Module 2 Overview: Account X 5 Question 2 - Chapter 5 Assig X 5 Exercise 5-13.docx X + X G 2% ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252Fstudent%252Fclass%2... * L . . . Chapter 5 Assignment Saved Help Save & Exit Submit 2 Exercise 5-18 Journal entries to contrast the periodic and perpetual systems-perpetual and periodic LO2, 7 Refer to the following merchandising transactions for Scout Systems. 32 points Nov. 1 Scout Systems purchases merchandise for $3, 400 on credit with terms of 1/10, n/30. Scout Systems pays for the previous purchase. 7 Scout Systems receives payment for returned defective merchandise of $200 that was purchased on November 1. 10 Scout Systems pays $300 to transport merchandise to its store. References 13 Scout Systems sells merchandise for $5,500 on account. The cost of the merchandise was $3, 200. 16 A customer returns merchandise from the November 13 transaction. The returned item sold for $1, 100 and cost $680. The item will be returned to inventory. a. Journalize the above transactions for Scout Systems assuming a periodic system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record purchases on account for $3,400; credit terms of 1/10, n/30. Mc Graw Hill O Type here to search XP A D G() ENG 09:15 UP T.To/.9/1r