Question
Calculate (a) closing book inventory____________________________ (b) gross cost of merchandise sold ___________________ (c) gross margin %_______________________________ CostRetail Openinginventory$25,200$42,800 Netpurchases119,700210,300 Freight980 Additionalmarkup480 Netmarkdowns18,720 Netsales195,760 Employeediscounts860 Cashdiscounts1,796
Calculate (a) closing book inventory____________________________
(b) gross cost of merchandise sold ___________________
(c) gross margin %_______________________________
CostRetail
Openinginventory$25,200$42,800
Netpurchases119,700210,300
Freight980
Additionalmarkup480
Netmarkdowns18,720
Netsales195,760
Employeediscounts860
Cashdiscounts1,796
Alterationcosts398
Closing physicalinventory36,674
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Financial And Managerial Accounting
Authors: Carl S. Warren, Jefferson P. Jones, William Tayler
16th Edition
0357714040, 9780357714041
