Business, 20.10.2020 16:01 gizmo50245

2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.

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Answer from: bambamshortymacc

Question Completion:

The beginning inventory of merchandise at Keats Office Supplies and data on purchases and sales for a three-month period are as follows:

Date Transaction No. of Units Per Unit Total

March 3 Inventory 66 $225 $14,850

March 8 Purchase 132 270 35,640

March 11 Sale 88 750 66,000

March 30 Sale 55 750 41,250

April 8 Purchase 110 300 33,000

April 10 Sale 66 750 49,500

April 19 Sale 33 750 24,750

April 28 Purchase 110 330 36,300

May 5 Sale 66 790 52,140

May 16 Sale 88 790 69,520

May 21 Purchase 198 360 71,280

May 28 Sale 99 790 78,210

Keats Office Supplies

Total sales (495 units) = $381,370

Cost of goods sold $147,510

Gross profit $233,860

Explanation:

a) Data and Calculations:

Date Transaction No. of Units Per Unit Costs Revenue

March 3 Inventory 66 $225 $14,850

March 8 Purchase 132 270 35,640

March 11 Sale -88 750 66,000

March 30 Sale -55 750 41,250

April 8 Purchase 110 300 33,000

April 10 Sale -66 750 49,500

April 19 Sale -33 750 24,750

April 28 Purchase 110 330 36,300

May 5 Sale -66 790 52,140

May 16 Sale -88 790 69,520

May 21 Purchase 198 360 71,280

May 28 Sale -99 790 78,210

Total:

Cost of goods available 616 -495 = 121 $191,070 $381,370

May 31 Ending Inventory, using FIFO = 121 units 360 $43,560

Cost of goods sold = Cost of goods available for sale Minus Ending Inventory = $191,070 - $43,560 = $147,510

Answer from: Quest

if you use only 25 for your entertainment and only 200 for the groceries that you really need and take out the 50 per month for the computer then that should be enough

Answer from: Quest

none

explanation:

we're are the selections to pick from?

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