Business, 07.12.2019 06:31 Questions138

Atsunami destroyed sanraku company's warehouse and all of its inventory. sanraku's prior-year balance sheet reported inventory of $2,853. sanraku's management believes that last years gross profit percentage is a good estimate of the gross profit in the current year. sanraku's sales last year were $43,300 and its cost of goods sold was $23,815. before the tsunami, sanraku's net sales were $23,000. sanraku's purchased $17,530 of inventory of the inventory purchased, $701 had not yet been delivered to sanraku. requirements use the gross profit method to determine the following: a. what is sanraku's historical gross profit percentage? b. what is sanraku's estimated cost of goods sold? c. what is sanraku's estimated gross profit? d. what is sanraku's estimated ending inventory? requirement a. u the gross profit method to determine sanraku's historical gross profit percentage. identify the appropriate formula and then calculate sanraku's historical gross profit percentage. (round the gross profit percentage to one decimal place, x. x%.) gross profit requirement b. use the gross profit method to determine sanraku's estimated cost of goods sold identify the appropriate formula and then calculate sanraku's estimated cost of goods sold for the current year. (round any interim percentage calculations to one decimal place, x. x%. round the final estimated cost of goods sold amount that you enter into the table below to the nearest whole dollar.) estimated cost of goods sold requirement c. u the gross profit method to determine sanraku's estimated gross profit. se dentify the appropriate formula and then calculate sanraku's estimated gross profit for the current year. estimated gross profit

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Atsunami destroyed sanraku company's warehouse and all of its inventory. sanraku's prior-year balanc...

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