(a) To compute Cost of goods sold Cost of goods sold= Opening stock + purchases- closing stock Cost of goods sold = $10,000+$100,000-$40,000=$70,000 (a) To compute Gross profit Gross Profit = Sales less cost of good sold Gross Profit = $100,000 – $70,000 =$30,...
If I want a gross margin of 25%, what percent should I mark up my product? What is the gross profit method of inventory? What is the difference between gross margin and contribution margin? Related In-Depth Explanations Inventory and Cost of Goods Sold Mark the Question as Read Advan...
Payables deferral period = (365 days * Accounts payable) / Cost of goods sold Payables...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer...
How do you compute the unadjusted cost of goods sold? 1. What are some types of receivables for accounting? 2. How does accounts receivable occur? How is a prepaid expense treated as in accounting? What are some factors considered in estimating the amount of uncollectible accounts receivable?
Inventory and Cost of Goods Sold Depreciation Payroll Accounting View PRO Plus Features JoinPROorPRO Plusand Get Lifetime Access to Our Premium Materials Read all 2,866 reviews Features PRO PRO Plus Lifetime Access (One-Time Fee) Explanations ...
If you’re a non-VAT registered business, the process is simpler. First, compute your gross sales, then deduct allowable deductions, such as the cost of goods sold, salaries, wages, rentals, utilities, and other operating expenses. Finally, subtract the allowable deductions from the gross sale...
Question: Req A Req B and C Compute the amount of ending inventory and cost of goods sold at December 31 under Average cost, First-in, first-out, Last-in, first-out, Specific identification of the inventory costing methods. For Specific ...
C. first in, first out (FIFO) for both cost of goods sold (COGS) and average inventory. 正确答案:A 分享到: 答案解析: Inventory turnover makes no sense at all for firms using LIFO due to the mismatching of costs (the numerator is current while the denominator is historical). FIFO ...
Cost of goods sold984895 Selling and administrative expenses2,4002,330 Internet expenses1020 Total costs and expenses3,3943,245 Income before income taxes606355 Income tax expense242142 Net income364213 Compute the current ratio for year 2013. ...
甲公司为增值税小规模纳税人，2020年8月，生产销售一批应税消费品，取得含增值税销售额33 372元，已知增值税征收率为3%，消费税税率为10%，计算甲公司生产销售该批应税消费品应缴纳的消费税税额的下列算式中，正确的是