Calculate the total cost, total selling price and selling price per brownie. (Round your answers to two decimal places. Omit the "$" sign in your response.) Total Percent Total quantity Unit Total markup selling Item bought cost cost on cost price Brownies 20 $0.79 $ 60% $ Percent Selling that price will per spoil brownie 10% $
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- Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling price Percent MarkupBased on Cost Bookcase $41.40 $24.50 $ %Assume that markup is based on selling price. Calculate the dollar markup and cost. (Round your answers to the nearest cent.) Selling price Dollar Item Markup percent Cost markup Canon scanner 2$ 105 40 %Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Amount of Markup (in $) Percent Markup Based on Cost Percent Markup Based on Selling Price Item Cost (in $) Selling Price Sofa 45%8 %24
- Complete the table below. Rate of Rate of Price of Markup Based on Cost Markup Based on Cost Markup Selling Price Selling Price Php 1 150 Php 3 450 2. Php 2 070 Php 690 3. Php 1 150 Php 5 750 4. Php 5 520 Php 11 040 5. Php 4 830 Php 4 370 6. Php 18 400 Php 27 600 7. Php 8 050 Php 23 000Estimates of price-level changes for specific inventories are required for which of the following inventory methods? a. conventional retail b. weighted average cost c. FIFO d. dollar-value retail LIFOIf a company has four lots of products for sale, purchase 1 (earliest) for $17, purchase 2 (middle) for$15, purchase 3 (middle) for $12, and purchase 4 (latest) for $14, which cost would be assumed to be sold firstusing LIFO costing?A. $17B. $15C. $12D. $14
- Fill in the blanks in the following table. Round your answers to 2 decimal places. Cost ($) Amount of Markup ($) Selling Price ($) Rate of Markup on cost (%) Rate of Markup on Selling Price (%) Amount of Markdown ($) Rate of Markdown (%) Reduced Selling Price ($) a. $261.50 $57.50 $52.75 b. $842.57 $252.50 20.00% c. $62.00 7.00% $442.00 d. $4.25 27.00% $2.25 e. $173.25 39.00% 16.00% f. $8,770.00 43.00% $7,622.00assume that markup is based on selling price. calculate cost and selling price. dollar markup s $5.60 and percent on markup cost is 101.82%.The following information relates to CEE Company: (Refer to image). Assume that the company uses the average cost approach. What is the cost ratio? Express your answer in percentage and round up to two decimal points. * Retail Cost 500,000.00 Inventory, 12/31/2021 725,000.00 Purchases 1,285,000.00 2,220,000.00 Purchase returns 20,000.00 35,000.00 Purchase discounts 30,000.00 Sales (after employee discounts) 2,450,000.00 Sales returns 125,000.00 Sales allowances 70,000.00 Mark-ups Mark-up cancellations 160,000.00 70,000.00 Mark-down 65,000.00 Mark-down cancellations 32,000.00 Freight in Employee discounts Normal loss from breakage 65,000.00 15,000.00 10,000.00
- The following information is for Lawrence Company, who uses the LIFO method: Item Cost NRV MinusNormal Profit Net RealizableValue ReplacementCost a $3.40 $2.79 $4.14 $4.65 b 36.00 28.80 32.40 27.60 c 2.40 1.32 1.56 1.94 d 6.00 5.55 6.15 6.30 e 24.00 20.40 22.80 21.00 f 13.35 10.55 12.30 12.90 1. Determine the lower of cost or market for each inventory item. Item Lower ofCost or Market Value a $ b $ c $ d $ e $ f $ 2. Now assume instead that the company uses FIFO and the inventory is valued using the LCNRV rule, determine the value of each inventory item. Item Lower ofCost or Net Realizable Value a $ b $ c $ d $ e $ f $1. When prices are rising (inflation), which costing method would produce the highest value for gross margin? Choose between first-in, first-out (FIFO); last-in, first-out (LIFO); and weighted average (AVG). Evansville Company had the following transactions for the month. Cost per Unit $6,000 7,000 7,500 Number of Units Purchase 2 Purchase Purchase 4 Calculate the gross margin for each of the following cost allocation methods, assuming A62 sold just one unit of these goods for $10,000. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)1.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling price Percent MarkupBased on Cost Hat $24.75 $30.00 $ % 2.A customer just paid $63.21 for a raincoat. If the percent markup based on cost is 47%, what was the cost (in $)?$ 3.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Flashlight % 55% 4.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item PercentMarkupBased onCost PercentMarkupBased onSelling Price Drill % 42%