Question: HIJ Corp. Information Initial Inventory : $55,000 Net Purchases : $165,000 Final Inventory : $65,000 Sales : $270,000 Operating Expenses : $38,000 Requirements: Compute the

HIJ Corp. Information

  • Initial Inventory: $55,000
  • Net Purchases: $165,000
  • Final Inventory: $65,000
  • Sales: $270,000
  • Operating Expenses: $38,000

Requirements:

  1. Compute the Cost of Goods Sold.
  2. Prepare the income statement.
  3. Calculate gross profit and gross profit margin.
  4. Calculate operating profit margin.
  5. Evaluate the role of inventory management in cost control.

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