Author Question: For the month ending December 31, MidState Machinery had gross sales of $2,684,000, returns of , ... (Read 201 times)

khang · **on:** Feb 26, 2020

Question 1

For the month ending June 30, TriCounty Nursery has net sales of

, cost of goods sold of

and operating expenses of

Find the gross profit and net income.
◦ gross profit: $49,900; net income: $50,000
◦ gross profit: $100,000; net income: $50,000
◦ gross profit: $59,000; net income: $100,000
◦ gross profit: $100,000; net income: $59,000

Question 2

For the month ending December 31, MidState Machinery had gross sales of $2,684,000, returns of

, cost of beginning inventory $566,000, cost of purchases $1,279,000, cost of ending inventory

, total operating expenses $141,000. Find the net sales and cost of goods sold.
◦ net sales: $2,684,000; cost of goods sold: $1,339,000
◦ net sales: $2,624,000; cost of goods sold: $1,339,000
◦ net sales: $2,624,000; cost of goods sold: $1,279,200
◦ net sales: $2,624,000; cost of goods sold: $141,000

yifu223 · **Reply #1 on:** Feb 26, 2020

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 49% of students answer this correctly