a. what is gross profit in accounting term means?
b. calculate the value of the closing stock if units are valued at $34. The opening stock is 170 units and issues are 132 units.
c. An analysis of the cash register showed that 1200 customers spent $1,350.00. How much did the average customer spend?
2007-09-25 01:47:03 · 3 answers · asked by robin 1 in Business & Finance ➔ Other - Business & Finance
a. what is gross profit in accounting term means?
Gross profit means sales less cost of goods sold. Gross profit less selling, general & administration expenses gives you profit before tax.
b. calculate the value of the closing stock if units are valued at $34. The opening stock is 170 units and issues are 132 units.
If you started out with 170 units and issued out 132 units, you have left with you 38 units. At $34 each, this will amout to $34 x 38 = $1,292.
c. An analysis of the cash register showed that 1200 customers spent $1,350.00. How much did the average customer spend?
If 1,200 customers spent $1,350, each customer spent an average of $1,350/1,200 = $1.125.
2007-09-25 02:16:07 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋
a) revenue-expenses = net income. Net income/Total revenue is gross profit percentage.
b) 170 + 132 * 34. = 10268.00
c) 1350.00/1200 = 1.13 avg
You really should do your own homework
2007-09-25 08:53:09 · answer #2 · answered by hirebookkeeper 6 · 1⤊ 1⤋
gross profit = net sales - cost of goods sold
average = 135000/ 1200
2007-09-25 10:14:43 · answer #3 · answered by Dsalah s 3 · 0⤊ 0⤋