Question
Zorro Company buys from wholesalers and resells a single product that costs $10 each unit. All purchases are paid in cash. There is sales commission
Zorro Company buys from wholesalers and resells a single product that costs $10 each unit. All purchases are paid in cash. There is sales commission paid of 208 on each unit sold. Sales commissions and sales proceeds are also all in cash Each unit sells for $30 in year t the firm purchased 20,000 units and sold 15,000 units In year 2 it purchased 20,000 units and sold 16,500 units The firm uren FIFO inventory method for inventory costing
Required 1: Assuming no other transaction happened, the amount of gross Sales Revenue in year 2 is $.
Required 2. Assuming no other transaction happened, the amount of gross margin on sales in year 2 is $
Required 3: Assuming no other transaction happened, what was the profit sales for year?
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