At the beginning of 20C, Bay inc. reports inventory of $6,000. During 20 C the...
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Accounting
At the beginning of 20C, Bay inc. reports inventory of $6,000. During 20 C the company purchases additional inventory for $29,000 at the end of 20C the cost of inventory remaining is $8,000. The company sales revenue for the year was $45,000 and they had $500 of sales discounts.
calculate net sales:
calculate goods available for sale:
calculate cost of goods sold:
calculate gross profit:
(AKA , Gross profit margin)
Gross profit ratio= Gross profit
X100=GP% Net sales
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