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Category > Art & Design Posted 25 Aug 2017 My Price 5.00

Gross Profit Ratio Martin Corp

Exercise 5-24  Weighted  Average  Cost  Method  and  Gross  Profit  Ratio Martin Corp. began the year with 2,000 units of inventory that had been purchased for $6 per unit. During the year, 5,000 units were purchased for $8 each and 8,000 units for $10 each.

Martin sold 9,000 units during the year for $15 each. The company uses the weighted average

cost method.

Required

1.        Compute cost of goods sold expense.

2.        Compute the gross profit ratio.

 

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Maurice Tutor
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Status NEW Posted 25 Aug 2017 12:08 AM My Price 5.00

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