The Following Table Shows the Starting Salaries of a Sample

question 37

Short Answer

The following table shows the starting salaries of a sample of recent business graduates.
$$\begin{array} { c c } \text { Income In } \$1,000s & \text { Number af Graduate } \\15 - 19 & 40 \\20 - 24 & 60 \\25 - 29 & 80 \\30 - 34 & 18 \\35 - 39 & 2\end{array}$$
a. What percentage of graduates in the sample had starting salaries of at least $30,000?
b. Of the graduates in the sample, what percentage had starting salaries of less than $25,000?
c. Based on this sample, what percentage of all business graduates do you estimate to have starting salaries of at least $20,000?

Define and categorize Cost of Goods Sold and operating expenses for merchandising companies.

Master diverse terms and concepts related to inventory management, sales, and accounting practices for merchandising companies.

Understand the difference between periodic and perpetual inventory systems including the calculation and timing of cost of goods sold.

Recognize the importance of gross profit margin, how it’s calculated, and its distinction from the gross profit amount.

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