Reference no: EM132967915
Delta Merchandising, Inc., has provided the following information for the year just ended:
Net sales $128,500
Beginning inventory $24,000
Purchases $80,000
Gross margin $38,550
Problem 1: What was the ending inventory for the company at year-end?
Select one:
a. $65,450.
b. $9,950.
c. $24,500.
d. $14,050.
Problem 2: Gabel Inc. is a merchandising company. Last month, the company's merchandise purchases totalled $63,000. The company's beginning merchandise inventory was $13,000, and its ending merchandise inventory was $15,000. What was the company's cost of goods sold for the month?
Select one:
a. $91,000.
b. $65,000.
c.$61,000.
d. $63,000.
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