From the Following Data,calculate the Amount of Gross Margin and Gross

question 25

Short Answer

From the following data,calculate the amount of gross margin and gross purchases.
$\begin{array}{llr} \text { Ending Merchandise Inventory} &\$128\\ \text { Purchases Returns and Allowances } &32\\ \text {Beginning Merchandise Inventory } &160\\ \text { Sales } &1,280\\ \text { Freight-In } &96\\ \text { Cost of Goods Sold } &778\\\text { Purchases Disconuts }&16\end{array}$

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Definitions:

Predicted Income

An estimate of the amount of money that an individual or entity is expected to earn in the future.

Slope

The measure of the steepness or incline of a line, typically representing the rate of change between two variables in a linear relationship.

Intercept

The point where a line crosses the y-axis in a graph, representing the value of the dependent variable when the independent variable is zero.

Predicted GPA

An estimate of a student's grade point average based on various predictive factors or models.