1. LESSON 4-2 Interim Departmental Statement of Gross Profit
12/3/2018
LESSON 4-2
Interim Departmental Statement of Gross Profit
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2. ESTIMATING ENDING MERCHANDISE INVENTORY
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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

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

4. 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

5. 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