Yr 1 Yr 2 Yr 3 Sales $200,000 $250,000 $300,000 COGS 160,000 150,000 210,000 ...
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Accounting
Yr 1 Yr 2 Yr 3
Sales $200,000 $250,000 $300,000
COGS 160,000 150,000 210,000
Cash Collected
Year 1 Sales $140,000 $10,000 $40,000
Year 2 Sales ------------ $200,000 $30,000
Year 3 Sales ------------ ----------- $200,000
Required:
1. Calculate annual GP% (you need this)
2. Determine the Gross Profit recognized in each year from cash collected.
3. Determine the total Deferred Gross Profit at the end of year 3.
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