Question

QS 4-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $150,000 $550,000 $38,700 $255,700 Sales discounts $5,000 $17,500 $600 $4,800 Sales returns and allowances $20,000 $6,000 $5,100 $900 Cost of goods sold $79,750 $329,589 $24,453 $126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e., 0.2367 should be entered as 23.7%.)

Name: qs 4 15 computing and analyzing gross margin ratio lo a2 carrier lennox trane york sales 150000 550000 38700 255700 sales discounts 5000 17500 600 4800 sales returns and allowances 20000 600 30546
Uploaded: 2022-05-17T14:03:34-08:00
Duration: 1 min 37 s
Channel: Manasvee Singh
Description: qs 4 15 computing and analyzing gross margin ratio lo a2 carrier lennox trane york sales 150000 550000 38700 255700 sales discounts 5000 17500 600 4800 sales returns and allowances 20000 600 30546

          QS 4-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $150,000 $550,000 $38,700 $255,700 Sales discounts $5,000 $17,500 $600 $4,800 Sales returns and allowances $20,000 $6,000 $5,100 $900 Cost of goods sold $79,750 $329,589 $24,453 $126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e., 0.2367 should be entered as 23.7%.)

Added by Amanda B.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Manasvee Singh

05/17/2022

Step 1

**Carrier:** Net Sales = $150,000 - $5,000 - $20,000 = $125,000 **Lennox:** Net Sales = $550,000 - $17,500 - $6,000 = $526,500 **Trane:** Net Sales = $38,700 - $600 - $5,100 = $33,000 **York:** Net Sales = $255,700 - $4,800 - $900 = $250,000 ** Show more…

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QS 4-15 Computing and analyzing gross margin ratio LO A2 Carrier Lennox Trane York Sales $150,000 $550,000 $38,700 $255,700 Sales discounts $5,000 $17,500 $600 $4,800 Sales returns and allowances $20,000 $6,000 $5,100 $900 Cost of goods sold $79,750 $329,589 $24,453 $126,500 Compute net sales, gross profit, and the gross margin ratio for each of the four separate companies. (Round your gross margin ratio to 1 decimal place; i.e., 0.2367 should be entered as 23.7%.)