会计学 企业决策的基础 16版 6-8章 课后习题答案

Chapter 6Merchandising Activitie s
Ex. 6.4
a. Net sales -Cost of goods sold = Gross profit $ 26,000,000 ?
$ 15,000,000
Cost of goods sold = $11,000,000
b. Beginning inventory + Purchases -Cost of goods sold = Ending Inventory $ 6,450,000
$ 9,500,000 $11,000,000 (from part a) $ 4,950,000
c. The entry to record inventory shrinkage at the end of the year increased the Cost of Goods Sold account and reduced its Merchandise Inventory account by $10,000. Thus, immediately prior to recording inventory shrinkage, the Cost of Goods Sold account had a debit balance of $10,990,000 ($11,000,000 computed in part a minus $10,000), whereas the Merchandise Inventory account had a debit balance of $4,960,000 ($4,950,000 computed in part b plus $10,000). PROBLEM 6.1A CLAYPOOL HARDWARE
c. Claypool seems quite able to pass its extra transportation costs on to its customers and, in fact, enjoys
a significant financial benefit from its remote location. The following data support these conclusions:
Claypool Industry Hardware Average Difference
Annual sales …………………………….. $1,024,900 $1,000,000 $24,900
Gross profit ……………………………… 327,968250,000 (1) 77,968
Gross profit rate ………………………… 32% (2) 25% 7%
(1) $1,000,000 sales 25% = $250,000
(2) $327,968 gross profit $1,024,900 net sales = 32%
Claypool earned a gross profit rate of 32%, which is significantly higher than the industry average.
Claypool’s sales were above the industry average, and it e arned $77,968 more gross profit than the “average” store of its size. This higher gross profit was earned even though its cost of goods sold was $18,000 to $20,000 higher than the industry average because of the additional transportation charges.
To have a higher-than-average cost of goods sold and still earn a much larger-thanaverage amount of gross profit, Claypool must be able to charge substantially higher sales prices than most hardware stores.
Presumably, the company could not charge such prices in a highly competitive environment. Thus, the remote location appears to insulate it from competition and allow it to operate more profitably than hardware stores with nearby competitors.
PROBLEM 6.5A SIOGO SHOES AND SOLE MATES
c. Yes. Sole Mates should take advantage of 1/10, n/30 purchase discounts, even if it must borrow money
for a short period of time at an annual rate of 11%. By taking advantage of the discount, the company saves 1% by making payment 20 days early. At an interest rate of 11% per year, the bank charges only
0.6% interest over a 20-day period (11% X 20/365 = 0.6%). Thus, the cost of passing up the discount is
greater than the cost of short-term borrowing.
Chapter 7 Financial assets
Chapter 8 Inventories and the cost of goods sold。