LESSON 4-2 Interim Departmental Statement of Gross Profit

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Presentation transcript:

LESSON 4-2 Interim Departmental Statement of Gross Profit 12/3/2018 LESSON 4-2 Interim Departmental Statement of Gross Profit RED

ESTIMATING ENDING MERCHANDISE INVENTORY page 94 1 2 3 4 5 6 7 1. List beginning inventory. 5. Calculate estimated gross profit. 2. Determine net purchases. 6. Calculate the estimated cost of merchandise sold. 3. Calculate merchandise for sale. 7. Calculate estimated ending inventory. 4. Determine net sales. LESSON 4-2

INTERIM DEPARTMENTAL STATEMENT OF GROSS PROFIT page 95 LESSON 4-2

COST OF MERCHANDISE SOLD AND GROSS PROFIT PERCENTAGES page 96 1. The cost of merchandise sold percentage: 1 $42,186.47 $69,429.95 .6076 or 60.8% = 2 2. The gross profit margin percentage: $27,243.48 $69,429.95 .3924 or 39.2% = LESSON 4-2

TERMS REVIEW gross profit departmental statement of gross profit page 97 gross profit departmental statement of gross profit periodic inventory perpetual inventory gross profit method of estimating an inventory component percentage LESSON 4-2