What amount did dollar general report as gross profit

Assignment Help Financial Accounting
Reference no: EM132812225

Problem - Dollar General Corporation operates general merchandise stores that feature quality merchandise at low prices. All stores are located in the United States, predominantly in small towns in 24 mid-western and south-eastern states. In the current year, the company reported average inventories of $1,668 million and an inventory turnover ratio of 8.0. Average total fixed assets were $2,098 million, and the fixed asset turnover ratio was 9.0. What amount did Dollar General report as gross profit in the current year?

Reference no: EM132812225

Questions Cloud

How the principles of servant leadership are being employed : Use an article that illustrates how the principles of servant leadership are being employed in the workplace
Discuss the importance of post implementation metrics : Discuss the importance of post implementation metrics. During the contract negotiations and in the Strategic Planning document there were business objectives
Developing the annual information budget : Describe the process you would conduct in developing the annual information budget.
Cloud-based security and compliance solution : Qualys provides a cloud-based security and compliance solution. The Qualys Cloud Platform and its integrated apps help businesses simplify security operations
What amount did dollar general report as gross profit : Average total fixed assets were $2,098 million, and the fixed asset turnover ratio was 9.0. What amount did Dollar General report as gross profit
Describe the major prospecting methods : Explain strategic prospecting and each stage in the strategic prospecting process. Describe the major prospecting methods and give examples of each method.
Developing the annual information budget : Describe the process you would conduct in developing the annual information budget.
Find out the root cause of the incident happened : Kindly apply the accident mentioned in the scenario to find out the root cause of the incident happened.
What do see as the major message to the customer : What do you see as their major message to their customers? What is the point of the ad and do you think it successfully conveys its message?

Reviews

Write a Review

Financial Accounting Questions & Answers

  How do determine a reasonable estimate of an expected loss

How do determine a reasonable estimate of an expected loss from a lawsuit and it is probable it will lose the lawsuit, it should?

  Prepare journal entries for each of the dates as indicated

The Town of Quincy's fiscal year ends on June 30. The following data relate to the property tax levy for the fiscal year ended June 30, 2017.

  Which of the statements is correct about brownstein inc

If the most pessimistic sales figure is $80,000 per month and the most optimistic is $120,000 per month, which of the following statements is correct?

  Which industries where operating cycles may exceed

Which industries where operating cycles may exceed twelve months typically include? property development./ food preparation.

  Solve the cost of the plant as at january

Calculate the Cost of the Plant as at 01 January 2016. The company uses the REVALUATION MODEL and Revalues its plant on an annual basis.

  Calculate Planet Sub return on assets

Sub Station and Planet Sub reported the following selected financial data ($ in thousands). Calculate Planet Sub's return on assets, profit margin

  What is the current value of the cd principal

a. What is the current value of the CD principal (in euros and dollars)? b. What is the current value of the euro-denominated loan principal (in euros and doll

  Finished goods inventory

The Zoe Corporation has the following information for the month March. Determine the (a) cost of goods manufactured, and (b) cost of goods sold. Cost of materials placed in production $75,000 Direct labor 28,000 Factory overhead 36,000 Work in proces..

  Comparing lydexs performance to its major competitors

You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company’s financial statements, including comparing Lydex’s performance to its maj..

  Prepare Bridgeport journal entry for the December

The bonds' fair value was $1,050. Assume Bridgeport applies IFRS. Prepare Bridgeport's journal entry for the December 31 interest accrual

  The balance of purchase price was on credit

On 1 September, Harvey Ltd purchased a second hand vehicle for $5,400. On 20 November, the company purchased another vehicle costing $7,000 and the dealer offered a trade-in for the old vehicle of $4,950. The balance of purchase price was on credit. ..

  What entry must joe painting service make on december

National Bank on a 4-month, $100,000, 6% note. What entry must Joe's Painting Service make on December 31 before financial statements are prepared?

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!

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