Question: The inventory data for an item sold by Able Co. for November is as follows: Nov 1 Inventory 30 units at $30 each 10 Purchase

The inventory data for an item sold by Able Co. for

November is as follows: Nov 1 Inventory 30 units at $30 each

10 Purchase 36 units at $31 each 20 Purchase 25 units at

The inventory data for an item sold by Able Co. for November is as follows: Nov 1 Inventory 30 units at $30 each 10 Purchase 36 units at $31 each 20 Purchase 25 units at $32 each Nov. 30 Ending Inventory 34 units. Assume Able Co. sells its inventory at s50 per unit and has cost of goods sold is s1764. What is Able's gross margin? 1. $2850 2. $1058 3. (S64) 4, $1086

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

5 The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase 75 units at $27 each Nov. 30 Ending...

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase 75 units at $27 each Nov. 30 Ending...

The inventory data for an item sold by Able Co. for November is as follows: Nov 1 Inventory 30 units at $30 each 10 Purchase 36 units at $31 each 20 Purchase 25 units at $32 each Nov. 30 Ending...

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 30 units at $30 each 10 Purchase 36 units at $31 each 20 Purchase 25 units at $32 each Nov. 30 Ending...

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase 75 units at $27 each Nov. 30 Ending...

Question 15 2 Points The following is a single - step income statement for the Bonds Company: Bonds Company Income Statement For the Year Ended December 31,2016 Revenues : Net Sales $ 800,000...

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 10 Purchase 20 Purchase 55 units at $25 each 65 units at $26 each 75 units at $27 each Nov. 30 Ending...

Question Completion Status: QUESTION 41 The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase...

UUESTION 42 The inventory data for an item sold by Able Co for November is as follows Nov 1 Inventory 55 units at $25 each 10 Purchase 65 units at $25 och 20 Purchase 75 units at 527 each Nov 30...

The inventory data for an item sold by Able Co. for November is as follows: Nov. 1 Inventory 55 units at $25 each 10 Purchase 65 units at $26 each 20 Purchase 75 units at $27 each Nov. 30 Ending...

A block of iron quickly sinks in water, but ships constructed of iron float. A solid cube of iron 1.0 m on each side is made into sheets. To make these sheets into a hollow cube that will not sink,...

Arielle, Bella and Cindi were three university friends who decided to set up a company called Castle Blooms Pte Ltd (CBPL), a flower and gift delivery service. Each of them held 50,000 shares in...

A Qualitative characteristic of financial Information that requires that the financial information must be free from material error and bias is called?

4 How do management competences required for managers by companies vary across different countries?

1 How can Andersen Consulting develop and integrate the range of competences it requires for its international operations?

1 What is the relationship between national culture and the use of the competences approach?