Xu,IncReported the Following Information for 2013 and 2012 Determine the Following Amounts for Xu,Inc

question 62

Essay

Xu,Inc.reported the following information for 2013 and 2012:
$\begin{array}{lll}& \underline { 2013 }&\underline { 2012 }\\\text { Sales } & \$ 850,000 & \$ 890,000 \\\text { Sales discounts } & 15,000 & 23,000 \\\text { Purchases } & 500,000 & 600,000 \\\text { Ending inventory } & 50,000 & 40,000 \\\text { Transportation-in } & 10,000 & 19,000 \\\text { Purchase discounts } & 5,000 & 5.000\end{array}$ Determine the following amounts for Xu,Inc.for 2013:
A)Net cost of inventory purchases
B)Cost of goods available for sale
C)Cost of goods sold
D)Net sales
E)Gross profit ratio
F)Inventory turnover ratio
G)Average days to sell inventory

• A)Net cost of inventory purchases
• B)Cost of goods available for sale
• C)Cost of goods sold
• D)Net sales
• E)Gross profit ratio
• F)Inventory turnover ratio
• G)Average days to sell inventory

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