accounting

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Schumacher Company uses the perpetual inventory system, and it engaged in the following transactions during 2012:

1) Started the business by issuing common stock for $7,500 cash
2) Paid cash to purchase $5,000 of inventory
3) Sold inventory that cost $3,000 for $7,250 cash
4) Incurred and paid operating expenses, $250

  • accounting -

    The gross margin for the year 2012= Sales - cost of sales

    Margin= $7250-$3000= $4250

  • accounting -

    1950

  • accounting -

    4250

  • accounting -

    7250

  • accounting -

    mmk

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