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âCrabapples, Inc. purchases and sells boxes of dried fruit. The following information summarizes its operating activities for theâ year: Selling Expenses $ 9 comma 100 Merchandise Inventory on December 31 33 comma 500 Merchandise Inventory on January 1 46 comma 400 Purchases of merchandise 82 comma 000 Rent for store 12 comma 600 Sales commissions 7 comma 500 Sales revenue 164 comma 000 What is the cost per box of dry fruits if Crabapples sold 3 comma 000 boxes of dry fruit during theâ year?

Respuesta :

Answer:

The cost of each box of dry fruit sold during the year is$18.3

Explanation:

The first step to calculating the cost per box of dry fruits is to determine the Cost of Goods Sold.

Cost of Goods Sold

= Opening Merchandise of Inventory January 1+ Purchases of Merchandise during the year - Ending Merchandise inventory on December 31

=-$46,400 + $42,000- $33,500

= $54,900 is the Cost of Goods sold.

Step 2: Calculate the cost of each box sold as required

The formula is The Cost of Goods Sold determined in step 1 / the number of boxes of dry fruits Crabapples sold during the year

=$54,900/3000 boxes

= $18.3

The cost of each box of dry fruit sold during the year is$18.3

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