Presented here are selected transactions for Toth Company during September of the current year. Toth Company uses a perpetual inventory system. Toth Company estimates a return rate of 5% based on past experience. Sept. 2 Purchased equipment on account for $66,800, terms n/30, FOB destination. 3 Freight charges of $1,030 were paid by the appropriate party on the September 2 purchase of equipment. 4 Purchased supplies for $3,900 cash. 6 Purchased inventory on account from Southlake Corp. at a cost of $63,200, terms 1/15, n/30, FOB shipping point. 7 Freight charges of $1,500 were paid by the appropriate party on the September 6 inventory purchase. 8 Returned damaged goods costing $5,000 that were originally purchased from Southlake Corp. on September 6. Received a credit on account. 9 Sold goods costing $14,600 to Fischer Limited for $21,800 on account, terms n/30, FOB destination. 10 Freight charges of $350 were paid by the appropriate party on the September 9 sale of inventory. 17 Received the balance due from Fischer. 20 Paid Southlake Corp. the balance due. 21 Purchased inventory for $6,100 cash. 22 Sold inventory costing $22,000 to Kun-Tai Inc. for $26,200 on account, terms n/30, FOB shipping point. 23 Freight charges of $400 were paid by the appropriate party on the September 22 sale of inventory. 28 Kun-Tai returned goods sold for $900 that cost $770. The merchandise was restored to inventory.

Determine Toth Companys sales and cost of goods sold for September.

Sales $

Cost of goods sold $

Calculate toth company's gross profit as a dollar amount and gross profit margin as percentage...

gross profit $ ???

gross profit margin % ????

Presented here are selected transactions for Toth Company during September of the current year. Toth Company uses a perpetual inventory system. Toth Company estimates a return rate of 5% based on past experience. Sept. 2 3 4 6 7 8 9 9 Purchased equipment on account for $66,800, terms n/30, FOB destination. Freight charges of $1,030 were paid by the appropriate party on the September 2 purchase of equipment. Purchased supplies for $3,900 cash. Purchased inventory on account from Southlake Corp. at a cost of $63,200, terms 1/15, n/30, FOB shipping point Freight charges of $1,500 were paid by the appropriate party on the September 6 inventory purchase. Returned damaged goods costing $5,000 that were originally purchased from Southlake Corp. on September 6. Received a credit on account Sold goods costing $14,600 to Fischer Limited for $21,800 on account, terms n/30, FOB destination. Freight charges of $350 were paid by the appropriate party on the September 9 sale of inventory. Received the balance due from Fischer. Paid Southlake Corp. the balance due. Purchased inventory for $6,100 cash. Sold inventory costing $22,000 to Kun-Tai Inc. for $26,200 on account, terms n/30, FOB shipping point. Freight charges of $400 were paid by the appropriate party on the September 22 sale of inventory. Kun-Tai returned goods sold for $900 that cost $770. The merchandise was restored to inventory. 10 17 20 21 22 23 28