Author Question: Susan's Salon maintains a gross margin of 58 on all of its merchandise. In April the company had a ... (Read 108 times)

berenicecastro · **on:** Jun 24, 2018

Susan's Salon maintains a gross margin of 58 on all of its merchandise. In April the company had a beginning inventory of 622,500, net purchases of 92,400, and net sales of 127,700. Use the gross profit method to estimate the cost of ending inventory as of April 30.

Question 2

Flora's Flowers buys some pots and vases with a list price of 26,700. If the supplier offers a trade discount that yields a net price of 12,955, what is the trade discount rate to the nearest tenth of a percent?
A) 45.1
B) 49.5
C) 59.6
D) 51.5