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Flint Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 520 bookcases at a cost of $126
Flint Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 520 bookcases at a cost of $126 each. During June, the company had the following purchases and sales of bookcases:
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Date | Units | Unit cost | Units | Unit price | ||||||
June | 6 | 1,260 | $128 | |||||||
10 | 980 | $201 | ||||||||
14 | 1,830 | 129 | ||||||||
16 | 1,660 | 206 | ||||||||
26 | 1,000 | 130 |
Calculate Flint Furnitures gross profit and gross profit margin for the month of June. (Round gross profit margin to 1 decimal place, e.g. 15.1 and gross profit to the nearest whole dollar, e.g. 1525.)
Gross profit | $enter the gross profit in dollars rounded to 0 deimal place | ||
---|---|---|---|
Gross profit margin | enter the gross profit margin in percentages rounded to 1 decimal place | % |
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