Question
1-Financial information is presented here. Operating expenses $52080 Sales returns and allowances 14880 Sales discounts 3720 Sales revenue 204600 Cost of goods sold 119040 The
1-Financial information is presented here.
Operating expenses | $52080 |
Sales returns and allowances | 14880 |
Sales discounts | 3720 |
Sales revenue | 204600 |
Cost of goods sold | 119040 |
The profit margin is
A-6%.
B-36%.
C-8%.
D-18%.
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2-Crane Company just began business and made the following four inventory purchases in June:
June 1 | 212 units | $ 1292 | ||
June 10 | 252 units | 1764 | ||
June 15 | 252 units | 2016 | ||
June 28 | 212 units | 1802 | ||
$ 6874 |
A physical count of merchandise inventory on June 30 reveals that there are 262 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
A-$2202
B-$2282
C-$1642
D-$1941
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3-Cullumber Company buys land for $149000 on 12/31/21. As of 3/31/22, the land has appreciated in value to $156000. On 12/31/22, the land has an appraised value of $226002. By what amount should the Land account be increased in 2022?
A-$77002.
B-$7000.
C-$0.
D-$70002.
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