Solution-Determine the cost of goods sold and gross profit

Determine the cost of goods sold and gross profit

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Reference no: EM132350082

Question - The following information is available for crouching Alligator Manufacturing Company for the month ending October 31, 2016:

Cost of goods manufactured $450,000

Selling expenses 144,500

Administrative expenses 75,900

Sales 911,250

Finished goods inventory, July 1 101,250

Finished goods inventory, July 31 93,800

For the month ended October 31, 2016, determine: a) cost of goods sold b) gross profit and c) net income.

Reference no: EM132350082

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Determine the cost of goods sold and gross profit

Reference no: EM132350082

Reference no: EM132350082

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