User Account

All Pages

Calculate the gross margin as a percentage of sales

Assignment Help Accounting Basics
Reference no: EM132106896

Question - The following are sales, cost of sales, and inventory data for a company, a wholesale distributor of car accessories. Dollar amounts are in millions.

2015

2014

2013

2012

Sales

125

120

112

100

Cost of sales

110

95

90

80

Beginning inventory

16

15

13

11

Ending inventory

14

13

12

10

Required - For each year, calculate the following ratios (1) Gross margin as a percentage of sales and (2) Inventory turnover?

Reference no: EM132106896

Questions Cloud

Poster to demonstrate ideas in range of visual techniques : IT Infrastructure - Poster Development - Prepare a poster to demonstrate your ideas in range of visual techniques such as illustrations, schematic diagrams
Consideration the purchasing power of businesses : Taking in consideration the purchasing power of businesses, what as an individual you take as implications on acquisition or purchase exercises for-in-profit es
Compute the break-even point in year for the figurines : Compute the break-even point in Year 3 for the figurines. How many dolls and how many replicas must be sold to break-even
Decision between a perfectly competitive market : What's the differences in pricing, product design, and advertising decision between a perfectly competitive market and a monopolistically competitive market?
Calculate the gross margin as a percentage of sales : Required - For each year, calculate the following ratios (1) Gross margin as a percentage of sales and (2) Inventory turnover
Specific units or batches of a product : At the end of an accounting period should the cost of units in WIP be identified with specific units or batches of a product? Why or why not?
Give reasons as to whether johnson will be taxed : Give reasons as to whether Johnson will be taxed only for the $4,500 or for all the three amounts of money he received
What are the cash payments for manufacturing : Kidder Company began its operations on March 31 of the current year. What are the cash payments for manufacturing in the month of April
How has learning about educational research contributed : How has learning about educational research contributed to your own personal or professional goals?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Distinguish between a pension contribution and pension cost

Distinguish between a pension contribution and pension cost.

  A business issued a 30-day 4 note for 60000 to a creditor

a business issued a 30-day 4 note for 60000 to a creditor on account. illustrate the effects on the accounts and

  How much of retained earnings is available for dividends

Hutchinson Company had retained earnings of $10,000 on the balance sheet but disclosed in the footnotes that $2,000 of retained earnings was restricted for plant expansion and $1,000 was restricted for bond repayments. Cash of $2,000 had been set ..

  Calculate cholla fixed overhead spending variance

Actual results for the month of October reveal that Cholla produced 29,000 units and Calculate Cholla's fixed overhead spending variance

  Company a provides its managing director anna

Company A provides its managing director Anna with a loan of $20,000 to purchase a jet ski on 1 April 2015

  What are the tax consequences to ridge

What are the tax consequences to Ridge if he later sells the stock for $190,000? For $152,000? For $174,000

  On january 1 2011 giggle company purchased 30 of the voting

on january 1 2011 giggle company purchased 30 of the voting common stock of home corp. for 1000000. any excess of cost

  Determine the effective interest rate

An important source of temporary cash is trade credit, which does not actually bring in cash, but instead slows its outflow. Vendors often provide discounts for early payment. What is the formula to determine the effective interest rate if the dis..

  Discuss what was the variable cost per dog associated

What was the variable cost per dog associated with Zarena's water bill

  What is the correct cost to be included

Miller Machinery recently made some improvements to their facility. What is the correct cost to be included in the Land Improvements account

  What are the entries related to treasury stock transaction

If the cost method is used to record treasury stock transactions, what are the entries related to the treasury stock transactions

  Create comprehensive audit programs for account receivables

Create comprehensive audit programs for account receivables, discuss the specific risks and nature of the Target Company

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd