Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following information pertains to two competit

The following information pertains to two competitors, Mostly Inc. and Hardly Ltd. ...

80.2K

Verified Solution

Question

Accounting

The following information pertains to two competitors, Mostly Inc. and Hardly Ltd.

Company Beginning Inventory Ending Inventory Cost of Goods Sold
Mostly Inc. $164,000 $235,000 $859,604
Hardly Ltd. $593,000 $645,000 $1,871,324

Mostly Inc. reported sales revenues of $1,382,000 and Hardly Ltd. reported sales revenues of $2,716,000.

Calculate the gross margin and gross margin ratio for Mostly and Hardly.

Mostly Inc. Hardly Ltd.
Gross margin $ $
Gross margin ratio % %

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

Psychology
1.2K views

1. People sometimes suggest that psychology cannot be a science because either a) human behavior cannot...

Accounting
1.2K views

ABC Ltd (“ABC”) entered into a contract on 1st January 20x6 to build a factory building...

Geometry
1.2K views

A Part 1 of 6 Part 2 of 6 BC 37 C c 0 21...

Basic Math
1.2K views

Find the indicated terms in the expansion of(2x2 - 4x + 3)(2x 9) (5x2...

Basic Math
1.2K views

An artist creates a right prism whose bases are regular decagons. He wants to paint...

Statistics
1.2K views

0 4 A random sample of 1 200 units is randomly selected from a population...

Algebra
1.2K views

4 45 Ghulam Syed Attempt 1 30 45 x x 6 x 3 8 27...

Accounting
1.2K views

Sunland Company receives $354,000 when it issues a $354,000,10%, mortgage note payable to finance the...

Accounting
1.2K views

Please answer for min. tax: Given the following tax structure, what...

Accounting
1.2K views

Discussion Question 2 - Relationship Between Business Ethics and Stock Prices Discuss the relationship that...

Finance
1.2K views

Suppose you want to borrow SEK 4,000,000 to buy an apartment Suppose you had to...

Accounting
1.2K views

BOX Corporation purchased MACRS 5-year property in Year 1 for $5,000. On November 19 of...