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Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49
Culver Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 147 tents. This consists of 49 tents purchased in February at a cost of $211 each and 98 tents purchased in March at a cost of $229 each. During April, the company had the following purchases and sales of tents: Purchases Units Unit Cost Date Apr. 3 10 Units 72 Sales Unit Price $380 193 $277 17 263 380 24 285 291 30 203 380 Calculate Culver Outdoors's gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, eg. 1.2 and gross profit to the nearest whole dollar, eg. 5,275) Gross profit Gross profit margin X
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