Business, 22.10.2020 19:01 karkarntx

Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60% of cost, (c) gross profit is 35% of sales, and (d) gross profit is 25% of cost.

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Answer from: erin2077

a. $819,350

b. $641,975

c. $464,600

d. $228,100

Explanation:

The full question is as attached

a. Cost of Good sold = Sale - Gross Profit

Cost of Good sold = $2,365,000 - 45%*$2,365,000

Cost of Good sold = $1,300,750

Ending Inventory = Total Goods available for sale - Cost of Good sold

Ending Inventory = $2,120,100 - $1,300,750

Ending Inventory = $819,350

b. Cost of Good sold = Sale - Gross Profit

Cost of Good sold = $2,365,000 - 60/160* $2,365,000

Cost of Good sold = $1,478,125

Ending Inventory = Total Goods available for sale - Cost of Good sold

Ending Inventory = $2,120,100 - $1,478,125

Ending Inventory = $641,975

c. Cost of Good sold = Sale - Gross Profit

Cost of Good sold = $2,365,000 - 30%*$2,365,000

Cost of Good sold = $1,655,500

Ending Inventory = Total Goods available for sale - Cost of Good sold

Ending Inventory = $2,120,100 - $1,655,500

Ending Inventory = $464,600

d. Cost of Good sold = Sale - Gross Profit

Cost of Good sold = $2,365,000 - 25/125*$2,365,000

Cost of Good sold = $1,892,000

Ending Inventory = Total Goods available for sale - Cost of Good sold

Ending Inventory = $2,120,100 - $1,892,000

Ending Inventory = $228,100

Compute the ending inventory, assuming that (a) gross profit is 45% of sales, (b) gross profit is 60

Answer from: Quest

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

Answer from: Quest

Planning,organizing, leading, and controlling.

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