Question
Bramble Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 151 tents. This consists of 50
Bramble Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 151 tents. This consists of 50 tents purchased in February at a cost of $214 each and 101 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Purchases Sales Date Units Unit Cost Units Unit Price Apr. 3 75 $405 10 200 $277 17 257 405 24 301 295 30 210 405
Calculate Bramble Outdoorss gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, e.g. 1.2 and gross profit to the nearest whole dollar, e.g. 5,275.)
Gross profit | $ | ||
Gross profit margin |
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