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solve efficiently please Use the following to answer questions 16 1. $ For case 1 , determine goods available for sale . $ For case
solve efficiently please
Use the following to answer questions 16 1. $ For case 1 , determine goods available for sale . $ For case 1 , determine ending 2. inventory 3. $ For case 2, determine goods available for sale 4. $ For case 2, determine Purchases 5. $ For case 3, determine cost of goods sold 6. $ For case 4, determine beginning inventory Use the following to answer questions 7 - 17 During September, KM Company sells 9,800 watches for $300.00 each. The company has the following inventory purchase transactions for September: 7. S What were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. For questions 14 - 16 assume the company uses Weighted Average cost inventory valuation. 14. $ Calculate ending inventory (WA) 15. $ Calculate cost of goods sold (WA) 16. $ Calculate gross profit (WA) 17. Based on the above, which method would show a larger net income number? (FIFO, LIFO or WA) Use the following to answer questions 18 - 21 GOL Inc., begins the year with inventory of $51,200 and ends the year with inventory of S44,300. During the year, the following amounts are recorded: Use the following to answer questions 1821 GOL Inc., begins the year with inventory of 551,200 and ends the year with inventory of $44,300. During the year, the following amounts are recorded: 18. $ Net Sales 19. S Calculate cost of goods sold 20. $ Gross profit 21 . decimal place) Use the following to answer questions 2229 GHT Corporation reports the following amounts in its December 31,20XD income statement: 22. $ Determine Sales 23. $ Determine gross profit 24. $ Determine operating expenses 25. $ Determine Income before income taxes (IBT) 26. 5 Determine Income tax expense 27. 5 Determine net income 28. % Calculate gross profit ratio (round to one decimal place). 29. Comparing GHT's common sized income statement with its competitor. The competitor's gross margin is 45.0%, which company is doing better? Use the following to answer questions 3035 Find the missing amounts: 30. S For case 1, determine cost of goods sold 31. For case 1, determine operating income (include "_" if needed) 32. $ For case 2, determine gross profit 33. : For case 2, determine operating income (include "_" if needed) 34. $ For case 3 , determine net sales 35. S For case 3, determine operating expense 36. Inventory records for DAD Incorporated revealed the following: DAD sold 490 units of inventory during the month. Ending inventory assuming LIFO would be $ 37. Inventory records for MOM Company revealed the following: MOM sold 3,300 units of inventory during the month. Ending inventory assuming FIFO would be $ 38. Inventory records for STC Company revealed the following: 38. Inventory records for STC Company revealed the following: STC sold 975 units of inventory during the month. Ending inventory assuming Weighted Average would be Use the following for questions 39&40 The company had $50,000 in beginning inventory and during the year they purchased $750,000 worth of inventory. Their Gross profit was $500,000 and they had Sales of $1,275,000 and Net sales of $1,270,000. 39. What was the company's ending inventory? 40. What was the company's gross profit ratio (round to 2 decimal places) % Step by Step Solution
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