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Hazard gross profit percentage

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Reference no: EM131376191

1. Hazard Company had $24,000 beginning inventory and $27,000 ending inventory. Net sales were $171,000; purchases, $91,000; purchase returns and allowances, $2,000; and freight-in $3,000. Cost of goods sold for the period is $89,000. What is Hazard'sgross profit percentage (rounded to the nearest percentage)?

A. 48 %

B. 16 %.

C. 14 %

D. 52%

2.  Choose the correct statement - Other comprehensive income:

A. affects earnings per share.

B. includes extraordinary gains and losses.

C. has no effect on income tax.

D. includes unrealized gains and losses on available-for-sale investments.

Reference no: EM131376191

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