Question
CarMax Inc. reports sales of $10,962,818 thousand and cost of sales of $9,498,456 thousand for the year ended February 28, 2013. The gross profit for
CarMax Inc. reports sales of $10,962,818 thousand and cost of sales of $9,498,456 thousand for the year ended February 28, 2013. The gross profit for the year is:
a. $20,461,274 thousand
b. $1,464,362 thousand
c. 86.6%
d. 13.4%
e. There is not enough information to determine gross profit.
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Financial Accounting A Business Perspective
Authors: Roger H. Hermanson, James Don Edwards
7th Edition
0072289988, 978-0072289985
