Question: NOP Ltd. Data Beginning Inventory : $60,000 Purchases : $150,000 Ending Inventory : $70,000 Sales : $280,000 Operating Costs : $45,000 Requirements: Determine the Cost

NOP Ltd. Data

  • Beginning Inventory: $60,000
  • Purchases: $150,000
  • Ending Inventory: $70,000
  • Sales: $280,000
  • Operating Costs: $45,000

Requirements:

  1. Determine the Cost of Goods Sold (COGS).
  2. Draft an income statement.
  3. Calculate gross profit and gross profit margin.
  4. Calculate the operating profit margin.
  5. Discuss how inventory valuation methods affect financial outcomes.

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