Gross sales 1000000$
net sales 900000$
fright in 10000$
ending inventory 200000$
gross margin profit 40%

Question

cost of good available for sale is

A-550000

B-560000

C -740000

D-800000

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN · Answer

Answer option >>>>>>>>>>>>>>>>>>>>>>> A-550000

FITAH MOHAMED · Answer

D->>>>>>>>>>>>800000

COS OF SOLD GOODS =1000000 *60%=600000 $

cost of good available for sale = COS OF SOLD GOODS +ENDING INVENTORY

=600000+200000=800000 $

Ahmed Abdi Mahad · Answer

G/P =900,000 ×40% =360,000 
Net sales - gross profit = cost of goods sold 
=900,000 -360,000=540,000
COGS =540,000
COGS + Ending inventory = merchandise available for sale
=540,000 +200,000 =740,000
cost of merchandise available for sale =740,000

So, choice C is the answer

Muhammad Ramzan Tufail ACCA · Answer

(C) is Ans.

Please to review this ans.

Barkat Ali · Answer

Given that the gross margin percentage is 40% of net sales (900,000 X 40%) =$ 360,000, cost of goods sold must be 60% of net sales (900,000 X 60%) = $540,000. Goods available for sale equals cost of goods sold plus ending inventory ($540,000 + $200,000 = $740,000)

Option C

خدمات بيت.كوم

استخدم تطبيق بيت.كوم

ابدأ بالتواصل مع الأشخاص وتبادل معارفك المهنية

Gross sales 1000000$ net sales 900000$ fright in 10000$ ending inventory 200000$ gross margin profit 40%

عمليات البحث الشائعة

المزيد من الأسئلة المماثلة