Author Question: Extra Manufacturing maintains a gross margin of 30 on all of its merchandise. In March the company ... (Read 54 times)

nelaaney · **on:** Jun 24, 2018

Extra Manufacturing maintains a gross margin of 30 on all of its merchandise. In March the company had a beginning inventory of 416,800, net purchases of 201,500, and net sales of 660,200. Use the gross profit method to estimate the cost of ending inventory as of March 31.
A) 420,240
B) 569,940
C) 264,080
D) 156,160

Question 2

30 of the graduating class of North College received immediate job offers. If there were 650 graduating students, how many students received job offers? For the problem above, The unknown element is called the Portion. The formula for finding the portion is Portion = Rate X Base
Indicate whether the statement is true or false