1-Financial information is presented here. Operating expenses $52080 Sales returns...
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Accounting
1-Financial information is presented here.
Operating expenses
$52080
Sales returns and allowances
14880
Sales discounts
3720
Sales revenue
204600
Cost of goods sold
119040
The profit margin is
A-6%.
B-36%.
C-8%.
D-18%.
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2-Crane Company just began business and made the following four inventory purchases in June:
June 1
212 units
$ 1292
June 10
252 units
1764
June 15
252 units
2016
June 28
212 units
1802
$ 6874
A physical count of merchandise inventory on June 30 reveals that there are 262 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is
A-$2202
B-$2282
C-$1642
D-$1941
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3-Cullumber Company buys land for $149000 on 12/31/21. As of 3/31/22, the land has appreciated in value to $156000. On 12/31/22, the land has an appraised value of $226002. By what amount should the Land account be increased in 2022?
A-$77002.
B-$7000.
C-$0.
D-$70002.
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