Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. carmax inc. reports sales of $10,962,818 thousand

CarMax Inc. reports sales of $10,962,818 thousand and cost of sales of $9,498,456 thousand for...

60.1K

Verified Solution

Question

Accounting

CarMax Inc. reports sales of $10,962,818 thousand and cost of sales of $9,498,456 thousand for the year ended February 28, 2013. The gross profit for the year is:

a. $20,461,274 thousand

b. $1,464,362 thousand

c. 86.6%

d. 13.4%

e. There is not enough information to determine gross profit.

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Two teaching methods and their effects on science test scores are being reviewed. A random sample...

Statistics
Q

A liquid is contained in a reactor vessel at 115 bar absolute pressure. It is transferred...

Chemistry
Q

There are four mechanisms that can cause changes in the frequencies of genes in populations...

Biology
Q

Fish mid level 3 Examine the smaller non tetrapod marine vertebrates i e fish swimming...

Biology
Q

K Let U 1 2 3 4 5 6 7 8 9 10 11 12...

Basic Math
Q

Solve the problem A company performs quality control on its juice bottles It finds that...

Statistics
Q

pls provide answers and steps for the above question, thanks Computing Present Values...

Accounting
Q

BE5-1 Monthly production costs in Dilts Company for two levels of production are as follows....

Accounting
Q

Preparing an Income Statement and a Statement of Comprehensive Income The following pretax amounts...

Accounting
Q

Hamilton Company uses a periodic inventory system. At the end of the annual accounting period,...

Accounting
Q

1)Describe the decision tree technique of predictive modeling.

Accounting
Q

Industrial and consumer prducts have similar characteristics and can be sold through similar channels. Select...

Accounting