Author Question: Lucent Technology maintains a gross margin of 40 on all of its merchandise. In April the company had ... (Read 112 times)

BRWH · **on:** Jun 24, 2018

Lucent Technology maintains a gross margin of 40 on all of its merchandise. In April the company had a beginning inventory of 518,700, net purchases of 312,400, and net sales of 750,400. Use the gross profit method to estimate the cost of ending inventory as of March 31.
A) 380,860
B) 329,940
C) 120,000
D) 156,160

Question 2

Bob's Motorcycle shop buys some seats and handle bars with a list price of 5,020. The supplier extends a 32 trade discount rate. What is the net price?
A) 3,413.60
B) 1.606.40
C) 1,900.10
D) 3,200.60