Compute gross profits of costs of goods sold and selling, Ask an Expert

Accounting

Q1) Compute Gross profits of costs of goods sold, and selling price MBI Inc., had sales of= $141.6 million for fiscal 2009. Company's gross profit ratio for that year was 31.6%.

1. Compute the gross profit?

2. Determine the cost of goods sold?

3. Compute the selling price?

4. What must be done with information?

a. Utilize a target Selling Price but research more

b. Utilize as selling price for the new product

c. Utilize target cost price but research more

d. Utilize as cost price for the new product

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M916859

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