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Can you please answer the Total Sales, Cost of Goods Sold, Gross profit, and Gross profit margin? Presented here are selected transactions for Toth Company
Can you please answer the Total Sales, Cost of Goods Sold, Gross profit, and Gross profit margin?
Presented here are selected transactions for Toth Company during September of the current year. Toth Company uses a perpetual inventory system. Toth Company estimates a return rate of 5% based on past experience. Sept. 2 Purchased equipment on account for $60,300, terms n/30, FOB destination. 3 Freight charges of $960 were paid by the appropriate party on the September 2 purchase of equipment. 4 Purchased supplies for $4,100 cash. 6 Purchased inventory on account from Southlake Corp. at a cost of $71,100, terms 1/15,n/30, FOB shipping point. 7 Freight charges of $1,600 were paid by the appropriate party on the September 6 inventory purchase. 8 Returned damaged goods costing $5,100 that were originally purchased from Southlake Corp. on September 6. Received a credit on account. 9 Sold goods costing $16,100 to Fischer Limited for $21.200 on account, terms n/30, FOB destination. 10 Freight charges of $370 were paid by the appropriate party on the September 9 sale of inventory. 17 Received the balance due from Fischer. 20 Paid Southlake Corp. the balance due. 21 Purchased inventory for $6,300 cash. 22 Sold inventory costing $18,900 to Kun-Tai Inc for $25,500 on account, terms n/30, FOB shipping point. 23 Freight charges of $600 were paid by the appropriate party on the September 22 sale of inventory. 28 Kun-Tai returned goods sold for $1,090 that cost $690. The merchandise was restored to inventory. Determine Toth Company's sales and cost of goods sold for September Sales $ Cost of goods sold $ List of Accounts Your answer is incorrect Calculate Toth Company's gross prontas a dollar amount and the gross profit margin as a percentage (Round gross profit margin to 1 decimal place, es 15.2%) Gross pront $ Gross profit margin XStep by Step Solution
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