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In addition to the custom jobs, the Richmond Shirt Company sold 950 basic shirts (assume...

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Question

Accounting

In addition to the custom jobs, the

Richmond

Shirt Company sold

950

basic shirts (assume the beginning balance in Finished Goods Inventory is sufficient to make these sales, and the unit cost of the basic shirts in Finished Goods Inventory is the same as the unit cost incurred this month). If the company set the sales price at

160%

of the cost, determine the sales price per unit, total sales revenue, total cost of goods sold, and total gross profit for the basic shirts.

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