Question
Liang Chen's bridal store gets gowns from Weng Manufacturing. Liang Chen purchased dresses from Weng on July 17 and got an invoice for $6,000 and
Liang Chen's bridal store gets gowns from Weng Manufacturing. Liang Chen purchased dresses from Weng on July 17 and got an invoice for $6,000 and payment terms of 3/10, n/30. Liang Chen uses the net method to record purchases. Liang Chen should record the purchase at:
Multiple Choice
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$2,910.
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$5,820.
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$6,000.
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$6,180.
John and Jhonson brothers balance sheet showed a balance in the inventory account of $39,600 at the beginning of the year and $23,000 at the end. The inventory turnover ratio for the year was 5.7 and the gross profit ratio 35%. What were net sales revenue for the year? (Round your answer to the nearest dollar amount.)
Multiple Choice
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$178,410.
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$274,477.
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$509,743.
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$131,100.
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