Ending inventory in a retail establishment

Assignment Help Accounting Basics

Reference no: EM13128067

Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent. The ending inventory in February of this item cost $40,000 and the company wants an ending inventory of $38,000 (cost). How much needs to be purchased?

a) $38,000

b) $198,000

c) $498,000

d) $502,000

Reference no: EM13128067

Questions Cloud

Differentiation and critical points : Determine the intervals on which 'f ' is concave up and the intervals on which 'f ' is concave down. Find the values of all local minima and local maxima of 'f '. Explain why each value you find is a minimum or a maximum.

Are inquiry and observation by the auditor valid types : Are inquiry and observation by the auditor valid types of evidence and are they better or worst than say documentation provided by the client?

What is the exact volume (in ml) : Assuming the density of water is 1.00g/mL at ambient temperature, what is the exact volume (in mL) of the 250-mL Erlenmeyer flask?

Is company violating the accounting principle of consistency : Would the use of accelerated depreciation in the financial statements be more conservative or less conservative than the current practice of using the straight-line method? Explain.

Ending inventory in a retail establishment : Carson Inc., a retail establishment, expects sales of $500,000 of a particular item in March. Its gross profit percentage is 60 percent.

Define nitration of chlorobenzene (c6h5cl) occurs : Nitration of chlorobenzene (C6H5Cl) occurs- faster than nitration of benzene and gives a mixture containing mostly o-and p-chlorobenzene

Gas law derivatives : The gas law for a fixed mass m of an ideal gas at absolute temperature T, pressure P, and volume V is PV=mRT, where R is the gas constant. Show that

Set up and interpret a confidence interval : The average amount of insulation in the sample of household is 12 inches. The sample standard deviation is 15 inches. Set up and interpret a 95% confidence interval.

What temperature is necessary to increase the volume : A sample of neon (Ne) occupies 1700 mL at STP. At constant pressure, what temperature is necessary to increase the volume to 2100 mL?

User Account

All Pages