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Author Question: Set up a complete skeletal statement: Gross sales 129,350 Customer returns 10,600 Gross margin ... (Read 284 times)

lunatika

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on: Sep 11, 2018
Set up a complete skeletal statement:
  Gross sales 129,350
  Customer returns  10,600
  Gross margin 46.2
  Profit  3,800
 
  What will be an ideal response?

Question 2

Calculate profit/loss percent, given:
  Net sales 1,230,600
  Cost of merchandise sold 609,147
  Expenses 553,770
 
  a. Profit 3.50
  b. Profit 4.50
  c. Profit 5.50
  d. Profit 6.50


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Zack0mack0101@yahoo.com

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Reply #1 on: Sep 11, 2018
Answer to Question 1

Net sales = 129,350 - 10,600 = 118,750

Net sales 118,750 100.00
Cost of merchandise sold 63,887 53.80
Gross margin 54,863 46.20
Expenses 51,063 43.00
Profit  3,800 3.20

Answer to Question 2

c. Profit 5.50


lunatika

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  • Posts: 548
Reply 2 on: Sep 11, 2018
Excellent

abro1885

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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