Profit & Loss$/$Invoice Math Assignment $(50$ pts$)$

Instructions: Please write down all calculation procedures used to come up with the final answer on a separate sheet of

paper. Please highlight or circle your final answer. Missing calculations and not rounding to TWO decimal places

$($where applicable$)$ will result in zero points. Each question is worth $5$ points.

Determine the net profit or loss percent for the House of Holey Hose store if:

Joe Bob's House of Fashion had the following records:

What is the dollar net profit or loss?

Casual Fashions had net sales of $$380,000.$ The store had a $4\mathrm{.}5\%$ loss and the gross margin was $46\mathrm{.}5\%.$ What

was the store's operating expense percent?

Customer returns and allowances for a shoe department came to $$7,000.$ Gross sales in the department were

$$75,000.$ A$)$ What percentage of merchandise sold was returned? B$)$ What is the department's Net Sales?

The net sales of the shoe department were $$114,000.$ Customer returns were $$2,456.$ What were the gross sales

dollars for the department?

The Lisa Frank store in Fayette Mall had total sales of $$1,800,000.$ The stationery department sales were $12\%$ of

the store's total sales. The apparel department sales were $45\%$ of total sales. What were the dollar sales for the

stationery department?

The Cyclone store made purchases of $$57,000$ at cost$,$ with $2\%$ cash discounts earned, workroom costs of $$125$

and no transportation costs. Determine the total dollar cost of the merchandise.

Use a skeletal P$/$L statement to determine the COGS percent if Frenchie's Faux Furs achieved the following

figures:

Net profit

$=,$$$45,000$

$=,3\mathrm{.}5\%$