Search here for Tutorials

If the Data is different in your question, please send your questions to homeworksolutionsnow@gmail.com. The questions will be answered at the same price.

ACC 205 Week 3 E-16 Consider the following incomplete table of merchandiser's profit data


ACC 205 Week 3 E-16 Consider the following incomplete table of merchandiser's profit data 

E5-16 Computing inventory and cost of goods sold amounts [10–15 min]

E-16 Consider the following incomplete table of merchandiser's profit data:


Sales                  Sales             Net              Cost of             Gross
                        Discounts       Sales           Goods Sold         Profit

$ 89,500             $ 1,560       $ 87,940        $ 60,200               (a)
$103,600                  (b)        $ 99,220              (c)           $ 34,020
$  66,200            $ 2,000              (d)         $ 40,500               (e)
         (f)             $ 2,980               (g)        $ 75,800         $ 36,720

 
Requirement
Calculate the missing table values to complete the table.


SOLUTION PREVIEW

Sales – Sales Discounts = Net Sales = Cost of goods sold + Gross Profit

 

(a) Gross Profit                                    = Net Sales – Cost of goods sold

                                                = $87,940 - $60,200

File name: ACC-205-Week-3-E-16.doc File type: application/msword Price: $6