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HUEC_3043_Final_Review

# HUEC_3043_Final_Review - 1 Calculate the Gross Sales if Net...

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1. Calculate the Gross Sales if Net Sales of a regional buying office were \$41,000 and Customer Returns and Allowances totaled 7.5%. A. \$44, 324 B. \$44,075 C. \$37,925 D. \$3,075 2. A retailer occupies 750 sq. feet of space in a new town center development. Her first selling season she totaled \$123,000 in gross sales and only \$3,000 in customer returns. What is her inventory productivity if her available selling space is only 600 sq. feet? A. \$175/sq ft. B. \$205/sq ft. C. \$200/sq ft. D. \$164/sq ft. 3. To determine dollar amount of cash discount allowance you need to multiply what by the cash discount %? 4. All of the following are examples of a human resources productivity measure EXCEPT: Use the following example to answer the next 3 questions: A company posts a skeletal Profit and Loss showing a profit of \$500, Expenses of \$32,000 and a Cost of Goods Sold of \$96,700. 5. Calculate the gross margin percent.

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6. What percent of the total net sales is profit? A. 3.8% B. 4.5% C. 10 % D. .38% 7. Calculate the Cost of Goods Sold percent. 8. What are the 2 types of expenses as defined on the Profit and Loss sheet? 9. Calculate the customer returns percent if Net Sales are \$34,000 and customer returns and allowances are \$4,500. 10. Define Retail Method of Inventory: - An accounting system used in retail stores that values merchandising at current retail price that can be converted to cost value by markup formula 11. Gross Margin is calculated by subtracting what expense category from Net Sales? A. Direct Expenses B. Indirect Expenses C. COGS D. SG&A Expenses
12. A men’s suit department, over the first quarter has a billed merchandise invoices totaling \$80,000; standard freight charges of \$2,000; 7 1/2% in earned cash discounts and tailoring fees of \$500. Calculate the COGS. 13. What is the billed DELIVERED cost for the order placed in question 12? 14. If a sportswear department had 3600 customer sales over the Presidents’ Day Weekend Sale, then what would be the sales productivity for \$125,000 in net sales and \$3,400 in customer returns and allowances?

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