Reference no: EM132477849
Question 1) Zebra Company reports the following figures for the years ending December 31, 2019 and 2018:
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2019
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2018
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Net Sales
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$63,000
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$44,000
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Cost of Goods Sold
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43,000
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30,000
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Gross Profit
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$20,000
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$14,000
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What are the percentage changes from 2018 to 2019 for Net Sales, Cost of Goods Sold and Gross Profit, respectively?
A. 100%, 42.9%, 43.3%
B. 100%, 0.7%, 0.7%
C. 43.2%, 43.3%, 42.9%
D. 42.9%, 43.2%, 43.3%
Question 2) Mussa Corporation reports the following data:
Net sales $280000
Cost of goods sold 180000
Gross profit $100000
In vertical analysis, compute the cost of goods sold percentage?
Question 3) Marie's Clothing Store had an accounts receivable balance of $ 420,000 at the beginning of the year and a year-end balance of $ 620,000. Net credit sales for the year totaled $ 2,400,000. Compute the average collection period of the receivables?
Question 4) Carey's Department Store had net sales of $20 million and cost of goods sold of $ 14.00million for the year. The beginning inventory for the year was $ 10.00million. The ending inventory for the year was $ 12.00 million. What was the days' inventory outstanding?
Question 5) Marie's Clothing Store had an accounts receivable balance of $ 460, 000 at the beginning of the year and a year-end balance of $ 620,000. Net credit sales for the year totaled $ 2,000,000. Compute the average collection period of the receivables?