Problem
Computing and analyzing gross margin LO A2
|
|
a
|
b
|
c
|
|
d
|
|
Sales
|
150,000
|
550,000
|
38,700
|
$
|
255,700
|
|
Sales discounts
|
5,000
|
17,500
|
600
|
|
4,800
|
|
Sales returns and allowances
|
20,000
|
6,000
|
5,100
|
900
|
|
|
Cost of goods sold
|
79,750
|
329,589
|
24,453
|
126,500
|
|
Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place.)