User Account

All Pages

Compute the company cost of goods sold for the year

Assignment Help Accounting Basics
Reference no: EM133091819

Question - Laptop Lads is a leading laptop retailer. A recent financial report issued by the company revealed the following information:

Merchandise inventory (beginning of year) $79 million

Merchandise inventory (end of the year) $91 million

Net sales for the year $2.46 billion

Gross profit margin 13%

Required -

a. Compute the company's cost of goods sold for the year.

b. Approximately how much inventory did Laptop Lads purchase during the year?

c. What factors might contribute to the company's low gross profit margin?

d. Discuss reasons why Laptop Lads uses a perpetual inventory system.

Reference no: EM133091819

Questions Cloud

Shortcomings in the budget performance : The owners are aware of the shortcomings in the budget performance. They have now asked you to undertake appropriate research to investigate new approaches to b
Social media campaign strategy important : Why is having a social media campaign strategy important? What do you think is the future of mobile technology?
How much was NOPAT : If the minimum required rate of return is 15% and last year's residual income was $60,000, how much was NOPAT
How does price allocate goods and services : Why is pricing so important to the marketing manager? How does price allocate goods and services?
Compute the company cost of goods sold for the year : A recent financial report issued by the company revealed the following information: Gross profit margin 13%. Compute the company cost of goods sold for the year
Risk of long-term versus short-term loan : Discuss the risk of a long-term versus a short-term loan in regards to funding for a company related to bonds.
How google founders created a groovy culture : Google, whose fast-growing product line includes a continuously improving search engine, web browser, e-mail, and chat has a mission, "to organize the world's i
Marketing strategy positioning : Marketing Strategy Positioning: Outline the positioning goals for the new offering and relate it to the company and any of its other offerings if they exist.
Determine for December the amount of Earnings per Share : Paid in Capital Excess to par Common Stock was $20,000 on January 1. Determine for December the amount of Earnings per Share

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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