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Net sales for the department were $84,600.00. Cost of the goods sold was $28,640.00. Markup was 49.7%. Monthly stock levels are shown in the table
Net sales for the department were $84,600.00. Cost of the goods sold was $28,640.00. Markup was 49.7%. Monthly stock levels are shown in the table below. Calculate the GMROI. Month Retail Stock 1 $8,000.00 2 $12,000.00 3 $16,000.00 4 $17,000.00 5 $14,000.00 6 $14,000.00 7 $13,000.00 8 $11,000.00 9 $17,000.00 10 $11,000.00 11 $19,000.00 12 $14,000.00 EOM $7,500.00
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
