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The following data come from the inventory records of Dapper Company:Net sales revenue…………$624,000Beginning inventory…………64,000Ending inventory……………...43,000Net purchases………………..400,000Based on these facts, the gross profit for Dapper Company is
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Patterson Company ended the month of March with inventory of $20,000. Patterson expects to end April with inventory of $13,000 after selling goods with a cost of $93,000. How much inventory must Patterson purchase during April in order to accomplish these results?
Sales are $500,000 and cost of goods sold is $320,000. Beginning and ending inventories are $28,000 and $38,000, respectively. How many times did the company turn its inventory over during this period?
Trudell, Inc., reported the following data:Freight in ...........................$26,000Purchases ..........................207,000Beginning inventory ........52,000Purchase discounts.............4,300Dividends...............................4,000Purchase returns ................6,300Sales revenue....................446,000Ending inventory.............47,000Trudell's gross profit percentage is
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