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Johnmark1900, Associate Degree
Category: Multiple Problems
Satisfied Customers: 412
Experience:  I am a qualified Chartered Accountant, working as finance manager for reputable organization
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# I need help with these question belowFor questions 1 – 13

### Resolved Question:

Use the following to answer questions 16 – 20 Operating expense \$8,100 Beginning inventory \$950 Ending inventory \$375 Net Sales \$40,000 Gross profit \$15,000 Determine the following amounts based on the above data: 16. 16. Cost of Goods sold \$____________ 17. 17. Goods available for sale \$____________ 18. 18. Purchases \$____________ 19. 19. Net operating income \$____________ 20. 20. Gross profit ratio ___ ___.___% (rounded) DO NOT INCLUDE % sign in your answer Use the following to answer questions 21 – 24 Net Sales \$465,200 Purchases \$290,000 Ending inventory \$12,100 Cost of goods sold \$282,000 Net operating income \$46,100 21. 21. Gross profit \$____________ 22. 22. Goods available for sale \$____________ 23. 23. Beginning inventory \$____________ 24. 24. Operating expenses \$____________ Gross Profit 25. 25. This month JTL sells 2,000 units of product XTK-45 for \$61.50 per unit. For every unit sold it costs the company an average of \$36.25 per unit; what is JTL’s gross profit? \$__________________
Submitted: 1 year ago.
Category: Multiple Problems
Expert:  Johnmark1900 replied 1 year ago.

Use the following to answer questions 16 – 20 Operating expense \$8,100 Beginning inventory \$950 Ending inventory \$375 Net Sales \$40,000 Gross profit \$15,000 Determine the following amounts based on the above data:

16. 16. Cost of Goods sold \$_25,000

17. 17. Goods available for sale \$__25,375

18. 18. Purchases \$__24,425

19. 19. Net operating income \$___6,900

Use the following to answer questions 21 – 24 Net Sales \$465,200 Purchases \$290,000 Ending inventory \$12,100 Cost of goods sold \$282,000 Net operating income \$46,100

21. 21. Gross profit \$_183,200

22. 22. Goods available for sale \$_294,100

23. 23. Beginning inventory \$__ 4,100

24. 24. Operating expenses \$__137,100

Gross Profit 25. 25. This month JTL sells 2,000 units of product XTK-45 for \$61.50 per unit. For every unit sold it costs the company an average of \$36.25 per unit; what is JTL’s gross profit? \$__50,500

Johnmark1900, Associate Degree
Satisfied Customers: 412
Experience: I am a qualified Chartered Accountant, working as finance manager for reputable organization

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