What was the amount of Best Buy’s cost of merchandise sold
Q: During the current year, merchandise is sold for $31,850,000. The cost of the merchandise sold is…
A: Gross Profit: Gross profit represents the revenue after the deduction of cost of goods sold from the…
Q: During the current year merchandise is sold for 45,870,000. The cost of the merchandise sold is…
A: Gross Profit is one of the components of the profit and loss statement of your business. It is the…
Q: Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million.…
A: The gross profit is calculated by deducting the cost of goods sold from the sales revenue.
Q: Shelcal, Inc. provides the following data for the year2017: Sales revenue $420,000 Sales…
A: We have the following information: Sales revenue: $420,000 Sales returns and allowances: $1,400…
Q: Last year, the gross billings for merchandise made by ABC Company amounted to P15,720,000, purchase…
A: Solution: Net Cost of purchase = Purchases - Purchase return and allowances - purchase discount +…
Q: Determining Gross Profit During the current year, merchandise is sold for $11,750,000. The cost of…
A: a. Calculate gross profit: Gross profit = Sales - Cost of goods sold Gross profit = $11,750,000 -…
Q: During the current year, merchandise is sold for $158,900 cash and $434,900 on account. The cost of…
A: Formula: Gross profit = Sales - Cost of goods sold
Q: Gross Profit During the current year, merchandise is sold for $366,100 cash and $1,420,000 on…
A: Gross Profit = Total Sales less Cost of Goods Sold
Q: During the current year, merchandise is sold for $145,500 cash and $609,300 on account. The cost of…
A: A. Gross profit = Sales - Cost of goods sold = $6,400,000 - $5,376,000 = $1,024,000 B. Gross profit…
Q: 0,000. The cost of the goods sold is $4,698,000. a. What is the amount of the gross profit? $
A: a) Amount of gross profit= Sales - Cost of goods sold= $8,100,000 - $4,698,000= $3,402,000
Q: Ahku Mab LTD has 13,500 sales revenue in 2021. The inventory information for the year is Beginning…
A: The cost of goods sold includes the total cost of goods that are sold during the period. Cost of…
Q: During the year, a firm purchased $56,970 of merchandise and paid freight charges of $12,680. If the…
A: Net delivered cost of purchases = Purchases + Freight in - Purchase returns and allowances -…
Q: Kingbird, Inc. had net credit sales of $9023000 and cost of goods sold of $5449000 for the year. The…
A: Average days in inventory depict the number of days for which a company holds its inventories before…
Q: What is the amount of gross profit?
A: Given information is: During the current year, the merchandise is sold for 45,870, 000. The cost of…
Q: The Lubao Company reported the following information for the year 2009: Gross profit -P560,000;…
A: The total sales is calculated as cost of goods sold and gross profit
Q: During the current year, merchandise is sold for $366,100 cash and $1,420,000 on account. The cost…
A: Revenue (Cash) = 366,100 Revenue (Credit) = 1,420,000 Total Revenue = Cash Revenue + Credit Revenue…
Q: During the current year, merchandise is sold for $615,000 cash and $4,110,000 on account. The cost…
A: Gross profit can be defined as the excess of net sales revenue over the cost of goods sold. Gross…
Q: CP Jenney Stores generates $13,765,230 in sales, $8,735,429 in net profit, and 25% in gross margin.…
A: Cost of goods sold is the actual cost of goods being sold by the business to it's customers. Gross…
Q: During the current year, merchandise is sold for $98,300 cash and $644,900 on account. The cost of…
A: Calculate the amount of net sales.
Q: During the current year, merchandise is sold for $54,400 cash and for $81,400 on account. The cost…
A: The difference between the net sales and cost of goods is called Gross profit. Total sales are…
Q: The cost of merchandise sold for Kohl’s Corporation for a recent year was $12,265 million. The…
A: There are various payments made in process of running business. When the merchandise is purchased,…
Q: Determining Gross Profit During the current year, merchandise is sold for $821,000. The cost of…
A: Income Statement: Income Statement is the part of the financial statement which is prepared to…
Q: Net Sales of a merchandising company in the current year is $2, 310 million and its Cost of Goods…
A: Gross profit: It can be defined as the excess of a company's sales revenue over the direct expenses…
Q: Determining Cost of Goods Sold For a recent year, TechMart reported sales of $44,476 million. Its…
A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…
Q: Determining gross profitDuring the current year, merchandise is sold for $8,100,000. The cost of the…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: During the current year, merchandise is sold for $21,100 cash and $341,700 on account. The cost of…
A: Gross profit is calculated by deducting the cost of sales from the total sales value. The gross…
Q: Determining Cost of Goods Sold For a recent year, Best Buy (BBY) reported sales of $39,528 million.…
A: COST OF GOODS SOLD IS CALCULATED BY ADDING UP THE VARIOUS DIRECT COSTS REQUIRED TO GENERATE…
Q: If a retailer has revenues of $700,000, cost of goods sold that total $270,000, and operating…
A: The earning before taxes would be considered without considering the operating expenses. All these…
Q: A company reported the following data for the year ending 2018: Description Amount Sales Sales…
A: Gross profit is a profit that a company makes after deducting the cost associated with making and…
Q: Determining Cost of Goods Sold For a recent year, TechMart reported sales of $51,322 million. Its…
A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…
Q: Determining gross profit During the current year, merchandise is sold for $8, 100,000. The cost…
A: The gross profit is calculated as difference between sales and cost of goods sold.
Q: Himantayon Company provided the following information for the current year: Beginning inventory…
A: Gross purchase is the sum of the net purchase and purchase return. The net purchase can be…
Q: During the current year, merchandise is sold for $237,500 cash and $625,000 on account. The cost of…
A: Gross profit means sales revenue earned over and above cost of goods that are sold to customers.…
Q: Angel Department Store had net credit sales of P12,000,000 and cost of goods sold of P8,000,000 for…
A: Inventory turnover ratio is the number of times a company uses the investor available in a year, it…
Q: During the current year, merchandise is sold for $50,940 cash and for $83,900 on account. The cost…
A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…
Q: During the current year, merchandise is sold for $18,300 cash and $295,700 on account. The cost of…
A: Gross profit represents the revenue after the deduction of cost of goods sold from the net sales of…
Q: The gross of MARIGOLD Trading for the first quarter of the year amounted to P8, 284,000 and the…
A: The net sales of the company is calculated by deducting the sales return and allowance from the…
Q: During the current year, merchandise is sold for $925000. The Gross Profit is $411000. What is the…
A: Gross profit = Sales - Cost of merchandise sold
Q: During the current year, merchandise is sold for $60,300 cash and for $87,600 on account. The cost…
A:
Q: iorgio had cost of goods sold of $9,637 million, ending inventory of $2,305 million, and average…
A: The following calculations are done for Giorgio.
Q: During the current year, merchandise is sold for $54,900 cash and for $80,900 on account. The cost…
A: Gross profit refers to that part of the profit of the company that it makes after subtracting the…
Q: Danby, Inc. provides the following data from its income statement for 2018: Net Sales $540,000…
A: Sales revenue: It is the revenue earned by an organization on selling the products to the outsiders.…
Q: Determining Gross Profit During the current year, merchandise is sold for $31,850,000. The cost of…
A: Meaning of Gross Profit Gross profit is refer as the profit of the company which is computed after…
For a recent year, Best Buy reported sales of $42,879 million. Its gross profit was $9,961 million. What was the amount of Best Buy’s cost of merchandise sold
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- The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000For a recent year Best Buy (BBY) reported sales of $39,528 million. It's gross profit was $9,191 million. What was the amount of Best Buy's cost of goods sold?Determining cost of goods soldFor a recent year, Best Buy (BBY) reported sales of $39,528 million. Itsgross profit was $9,191 million. What was the amount of Best Buy's costof goods sold?
- During the current year merchandise is sold for 45,870,000. The cost of the merchandise sold is 33,026,400. What is the amount of gross profit?Determining Cost of Goods Sold For a recent year, TechMart reported sales of $30,742 million. Its gross profit was $7,071 million. What was the amount of TechMart's cost of goods sold? (Enter answer in millions.)During the current year, merchandise is sold for $31,850,000. The cost of the merchandise sold is $24,206,000.a. What is the amount of the gross profit?b. Compute the gross profit percentage (gross profit divided by sales).c. Will the income statement necessarily report a net income? Explain.
- Determining Cost of Goods Sold For a recent year, TechMart reported sales of $44,476 million. Its gross profit was $11,564 million. What was the amount of TechMart's cost of goods sold? (Enter answer in millions.)$ millionDuring the current year, merchandise is sold for $145,500 cash and $609,300 on account. The cost of the goods sold is $588,700. What is the amount of the gross profit?For the fiscal year, sales were $191,350,000 and the cost of merchandise sold was $114,800,000.a. What was the amount of gross profit?b. If total operating expenses were $18,250,000, could you determine net income?c. Is Customer Refunds Payable an asset, liability, or owner’s equity account, and what is its normal balance?d. Is Estimated Returns Inventory an asset, liability, or owner’s equity account, and what is its normal balance?
- Last year, the gross billings for merchandise made by ABC Company amounted to P15,720,000, purchase returns and allowances were P370,000, purchase discounts were P140,000, and freight-in was P175,000. Net cost of purchase last year for ABC Company were:During the current year, merchandise is sold for $970,000. The cost of the merchandise sold is $630,500. a) What is the amount of the gross profit? (b) compute the gross profit percentage. (c) when will thr income statement necessarily report a net income?Determining Gross Profit During the current year, merchandise is sold for $45,870,000. The cost of the merchandise sold is $33,026,400. a. What is the amount of the gross profit? 12,843,600 b. Compute the gross profit percentage (gross profit divided by sales). % c. When will the income statement necessarily report a net income?