DE5-18 Lands' End, the catalog merchant. reported the following for the year ended January 31, 2000 (as

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DE5-18 Lands' End, the catalog merchant. reported the following for the year ended January 31, 2000 (as adapted, with amounts in millions): Cash collections from customers $1.323 Cash payments to suppliers... $ 682 Net sales revenue. 1.320 Selling, general, and Cost of sales 727 administrative expenses........... 529 As an investor, you wonder which was greater. Lands' End's

(a) gross profit, or

(b) the com- pany's excess of cash collections from customers over cash payments to suppliers? Compute both amounts to answer this question.

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Accounting

ISBN: 9780130906991

5th Edition

Authors: Charles T. Horngren, Walter T. Harrison, Linda S. Bamber, Betsy Willis, Becky Jones

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