Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 3. anthony thomas candies (atc) reported the follo

3. Anthony Thomas Candies (ATC) reported the following financial data for...

70.2K

Verified Solution

Question

Accounting

image
3. Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017: 2017 2018 $311,000 8,000 $303,000 $295,000 5,500 $289,500 Sales Sales returns and allowances Net sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 57,000 140,000 197,000 66,000 131,000 $172.000 29,000 144,000 173,000 57,000 116,000 $173,500 ATC's gross profit ratio (rounded) in 2018 is: A. 56.8%. B. 58.3%. C. 45.0%. D. None of these answer choices are correct. Page 4 of 13

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

9 1 point According to the box and whisker plot shown what is the median...

Algebra
Q

In 6 years Harry and Sally would like to have $28,000.00 for a down payment on...

Advance Math
Q

Given what we know about the relationship between genes, chromosomes, and DNA, why can more than...

Biology
Q

Movement of food through the alimentary canal is referred to as _____. Absorption Mastication Ingestion Propulsion.

Medical Sciences
Q

Listen The best classification system is that which most closely a corroborates the classification scheme...

Biology
Q

B A 5 C b Find the value of x to the nearest tenth 8...

Geometry
Q

a Copy and complete the table of values for the relation y x x 2...

Basic Math
Q

cost of bwip was $10,000 in materials and $20,000 in conversion. Cost incurred this period...

Accounting
Q

At Midland Company's break-even point of 8,300 units, fixed costs are $107,900 and variable costs...

Accounting
Q

The Good Buy Furniture Company sells manufacturer close outs at bargain prices. It uses the...

Accounting
Q

Using the root-locus plot, find the feedback gains for which the damping is 1.0...

Finance
Q

Entries and Schedules for Unfinished Jobs and Completed Jobs Hildreth Company uses a job order...

Accounting