FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 5 of 6 -/1 Cato is a West Coast company with more than 400 drug stores. Financial information for fiscal 2020 and 2019 follows:

image text in transcribed
image text in transcribed
Question 5 of 6 -/1 Cato is a West Coast company with more than 400 drug stores. Financial information for fiscal 2020 and 2019 follows: (in thousands) Sales Cost of merchandise sold Merchandise inventory Fiscal 2020 $4.979,300 3,452,100 494,110 Fiscal 2019 $4,817.500 3,844,700 558,000 (a) Compute the gross margin percentage for both years. (Round answers to 1 decimal place. eg. 10.6%) 2020 2019 Gross margin percentage Question 5 of 6

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internal Auditing Assurance And Consulting Services

Internal Auditing Assurance And Consulting Services

Authors: Kurt Reding, Paul Sobel, Michael Head, Sridhar Ramamoorti, Urton Anderson

2nd Edition

0894136437, 978-0894136436

More Books

Students also viewed these Accounting questions

Question

★★★★★
(a) Your roommate says, Sales taxes are reported as an expense in the income statement. Do you agree? Explain. (b) Pearls Cafe has cash proceeds from sales of $8,550. This amount includes $550 of...

Answered: 1 week ago

Question

★★★★★
A nonlinear system is described by the following eq'uations, XI = 2xi + 3xi - 2xz + u z = xz - 0.25(sin XI +cos x2) + u. (a) With u = 0 plot the state-space trajectories in the neighborhood of the...

Answered: 1 week ago

Question

★★★★★
Christy Albright and Dan Ralls formed the Charter Company on 11/30/2012, and chose a tax year ending on 11/30. Charter was formed to operate a restaurant (at 7848 Pesca Dr., San Francisco, CA 94123)...

Answered: 1 week ago

Question

★★★★★
Required information [The following information applies to the questions displayed below.) Alquist Company uses the retail method to estimate its ending inventory. Selected information about its year...

Answered: 1 week ago

Question

★★★★★
Knowing all the information from dataset, what is the right answer to the Question 3 [03]? Sample Standard Deviation 12 Sample Mean 15.1 Sample Size 2? Confidence Level 95% Standard Error of the Mean...

Answered: 1 week ago

Question

★★★★★
On January 1, 20X1, Porta Corporation purchased Swick Company's net assets and assigned goodwill of $80,100 to Reporting Division K. The following assets and liabilities are assigned to Reporting...

Answered: 1 week ago

Question

★★★★★
SARAD 09 (Photo courtesy of Caterpillar) A re-seller of mining machinery, located in Stratford, Ontario, calls a CIFFA Forwarder, inquiring about shipping a used Caterpillar Grader, to Vina del Mar,...

Answered: 1 week ago

Question

★★★★★
Report on the engagement activities that have occurred with your group during the term and share your personal/individual plans to continue interactions beyond the course. Produce either a text...

Answered: 1 week ago

Question

★★★★★
A short, cantilevered round peg is 40 mm in diameter and extends 10 mm from the wall. It is loaded, as shown, with a force F = 50 kN applied at the tip in the negative z direction, and a torque T=...

Answered: 1 week ago

Question

★★★★★
11. Todd fractured his wrist while he was Rollerblading. To relieve the pain, his doctor suggested that he take 500 mg of aspirin every 6 h. At this rate, only 26% of the aspirin remains in his body...

Answered: 1 week ago

Question

★★★★★
=+he goes to that restaurant every day. The reason the agency creatives wrote every day as one word was for two reasons. First, they wanted the audience to read the slogan like a verbal logo. Second,...

Answered: 1 week ago

Question

★★★★★
=+16. Know when to break grammatical rules In advertising copy, it's okay to start a sentence with because. Why? Because it works. You can end a sentence with a preposition because that's the way we...

Answered: 1 week ago

Question

★★★★★
=+A good basic selling idea, involvement and relevancy, of course, are as important as ever, but in the advertising din of today, unless you make yourself noticed and believed, you ain't got nothin'.

Answered: 1 week ago

Previous Question Next Question