Given the information provided in this illustration, what are the gross profit and gross margin ratio? Revenue $927,000
Sales Returns $25,000
Sales Discounts $15,100
Net Sales $86900
Cost of Goods Sold $168500
Gross Profit ?
Gross Profit Margin % ?
$927,000 $25,000 $15,100 $886,900 $168,500
a.) Gross Profit: $758,500 Gross Margin Ratio: 82%
b.) Gross Profit: $1,055,400 Gross Margin Ratio: 84%
c.) Gross Profit: $718,400 Gross Margin Ratio: 81%
d.) Gross Profit: $846,800 Gross Margin Ratio: 91%

The distinction between a normal and an inferior good is

Use the information below to answer the following question. the boxwood company sells blankets for $60 each. the following was taken from the inventory records during may. the company had no beginning inventory on may 1. date blankets units cost may 3 purchase 5 $20 10 sale 3 17 purchase 10 $24 20 sale 6 23 sale 3 30 purchase 10 $30 assuming that the company uses the perpetual inventory system, determine the gross profit for the month of may using the lifo cost method.

Match the terms with the appropriate definition. 1. work done for pay job 2. series of related jobs based on knowledge, training, tasks performed, interests, and experience career 3. buying or selling products and services using the internet mediation 4. wage amount after deductions are withheld net wage 5. a way a person chooses to live his or her life e-commerce 6. the people who are both able and willing to work technology 7. unequal treatment of others based on a bias concerning a person’s characteristics such as race, religion, gender, or age discrimination 8. the act of sharing information lifestyle 9. the use of a third party to make suggestions workforce 10. knowledge and tools used to perform tasks communication