Question
Lindsey Corporation had the following account balances: Sales revenue $200,000 Beginning inventory 40,000 Purchases 80,000 Purchase discounts 3,000 Freight-in 1,000 Ending inventory 30,000 Purchase returns
Lindsey Corporation had the following account balances:
| Sales revenue | $200,000 |
| Beginning inventory | 40,000 |
| Purchases | 80,000 |
| Purchase discounts | 3,000 |
| Freight-in | 1,000 |
| Ending inventory | 30,000 |
| Purchase returns and allowances | 2,000 |
____ 18. Given this information, gross margin is
| a. | $86,000 |
| b. | $94,000 |
| c. | $106,000 |
| d. | $114,000 |
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Cost Accounting Theory And Practice
Authors: R. Palaniappan, N. Hariharan
1st Edition
9380578342, 978-9380578347
