Golf Shop Inventory: Retail Prices: Cost Prices:

48 Polos Polos $90 each Polos $45

36 Dozen Golf Balls Balls $50/dozen Balls $37/dozen

72 Golf Gloves Gloves$25 each Gloves$15 each

120 Hats Hats $28 each Hats $14 each

Use the information provided above to answer the following questions.

1. On the 1^st of the month, a member walks into the golf shop and purchases a shirt, hat, and a dozen balls for himself and each of his three guests that he is playing with today. He also buys a glove for himself. Calculate the following of this transaction...

1. Sales in dollars

1. Cost of goods sold in dollars

1. Gross margin in dollars

1. Cost of goods sold percentage

1. Gross margin percentage

1. Two days later and before their round, a member comes into the golf shop and buys a shirt, hat, glove, and one dozen balls.After a long front nine, the member comes back into the golf shop at the turn to pick up another dozen balls and another glove. After the round, the member comes back into the golf shop to buy a shirt to wear to dinner and two gloves and two dozen balls to take with him for his round at a nearby course tomorrow. Calculate the following of these transactions...

1. Sales in dollars

1. Cost of goods sold in dollars

1. Gross margin in dollars

1. Cost of goods sold percentage

1. Gross margin percentage

1. The next week, the golf course superintendent comes into the golf shop and buys 15 hats for the employees on his staff. Per club policy, merchandise is to be sold at a 25% discount for employees. Calculate the following of this transaction...

1. Sales in dollars

1. Cost of goods sold in dollars

1. Gross margin in dollars

1. Cost of goods sold percentage

1. Gross margin percentage

1. An outing purchases 8 shirts, 8 dozen balls, and 8 hats to use as prizes for their event. Calculate the following of this transaction...

1. Sales in dollars

1. Cost of goods sold in dollars

1. Gross margin in dollars

1. Cost of goods sold percentage

1. Gross margin percentage

1. Assuming that the previous four transactions were the only transactions this month, calculate the following for the month...

1. Sales in dollars

1. Cost of goods sold in dollars

1. Gross margin in dollars

1. Cost of goods sold percentage

1. Gross margin percentage

1. (Bonus) Based on the previous four transactions this month, what is the total golf shop inventory at the end of the month?