Gross Profit Method (Used To Determine Inventory Lost In A Fire, % Cost Vs % Sales)
34.9 هزار بار بازدید -
12 سال پیش
-
Accounting using the gross profit
Accounting using the gross profit method (gross margin method) to determine the cost of goods sold to estimate inventory that was destroyed, first show how to calculate the inventory loss based on (cost + gross profit = sales) then show how this calculation would be made based on using gross profit based on percentage of sales, takes beginning inventory plus purchases at cost and sales at selling price and subtract the gross profit to determine sales at cost, gross profit method relies on (3) assumptions, (1) Beginning inventory + purchases = total goods to be accounted for, (2) goods not sold must be on hand and (3) sales reduced to cost, deducted from the sum of opening inventory plus purchases equal ending, gross profit percentage is based on policies or prior period records, inventory, using the gross profit method can use to approaches to calculate ending (on hand) inventory, either as (1) as a percent of sales and (2) percent of markup of cost which requires converting the markup at cost percentage to the percent of sales, the gross profit percentage can be calculated either by (1) percentage mark up on cost or by (2) percentage markup of the selling price, based on the general equation (cost + gross profit = selling price), to determine either the gross profit on selling price or percentage markup on cost substitute either the markup at cost or percent of selling price as the gross profit in the general equation, based on the substitution (1) gross profit on selling price equals (percentage markup on cost divided by 100% + percentage markup on cost) and (2) percentage markup on cost equals (gross profit percentage divided by 100% - gross profit percentage selling price), if one of the percentages is know the other can be calculated based on the equation for each, (1) given the markup on cost the gross profit percent of sales can be calcuated and (2) given the gross profit percentage on selling price the percent markup on cost is calculated, detailed calculations by Allen Mursau
12 سال پیش
در تاریخ 1391/09/02 منتشر شده
است.
34,911
بـار بازدید شده