Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 11 presented below is information related

Question 11 Presented below is information related to Skysong Corporation for the current year. 590,300...

80.2K

Verified Solution

Question

Accounting

image

Question 11 Presented below is information related to Skysong Corporation for the current year. 590,300 1,472,500 Beginning inventory Purchases Total goods available for sale Sales revenue $2,062,800 2,455,000 Compute the ending inventory, assuming that (a) gross profit is 46% of sales, (b) gross profit is 60% of cost, (c) gross profit is 36% of sales, and (d) gross profit is 25% of cost. (Round ratios for computational purposes to 1 decimal place, eg. 78.7% and final answers to 0 decimal places, eg. 28,987.) Ending Inventory (a) (b) (c) (d) Gross profit is 46% of sales Gross profit is 60% of cost Gross profit is 36% of sales Gross profit is 25% of cost

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students