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stevenssimeon30
17.09.2019 •
Business
belstone, inc. is a merchandiser of stone ornaments. it sold 15,000 units during the year. the company has provided the following information: sales revenue $ 510 comma 000 purchases (excluding freight in) 310 comma 500 selling and administrative expenses 36 comma 000 freight in 15 comma 900 beginning merchandise inventory 42 comma 500 ending merchandise inventory 59 comma 000 how much is the gross profit for the year?
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Ответ:
$200,100
Explanation:
Given that,
Units sold = 15,000
Sales Revenue = $510,000
Purchases (excluding Freight In) = $310,500
Selling and Administrative Expenses = $36,000
Freight In = $15,900
Beginning Merchandise Inventory = $42,500
Ending Merchandise Inventory = $59,000
Cost of goods sold = Beginning Merchandise Inventory + Purchases + Freight In - Ending Merchandise Inventory
= $42,500 + $310,500 + $15,900 - $59,000
= $309,900
Gross Profit = Sales Revenue - Cost of goods sold
= $510,000 - $309,900
= $200,100
Ответ: