Business documents used to keep track of sales and purchases are called ____________________. Fill ...

Business documents used to keep track of sales and purchases are called ____________________.
 Fill in the blank(s) with correct word

Q. 2

Save-Mor Merchandisers had net sales of 422,300 for the year. If the beginning inventory at retail was 250,900 and the ending inventory at retail was 171,400, find the inventory turnover at retail. (Round your answer to the nearest tenth)
 A) 2.0 Times
  B) 1.7 Times
  C) 2.5 Times
  D) 1.5 Times

Q. 3

When determining the rate of increase or decrease between two amounts, first subtract the difference between the two amounts, then divide the difference by the original amount.
  Indicate whether the statement is true or false

Q. 4

Walker Manufacturing took in 206,500 in sales during October. They started the month with inventory worth 642,500 and spent 368,600 on new purchases during the month. Gross margin on sales was 66. Using the gross profit method, estimate the cost value of the inventory at the end of October.
 A) 70,210
  B) 436,000
  C) 940,890
  D) 1,011,100

Q. 5

Last year, 41 of the sales of the local coffee shop were during breakfast hours. If those breakfast hour sales were 28,500, what were the total sales of the coffee shop for the year?  The solution to the above problem is  11,685.
  Indicate whether the statement is true or false

Q. 6

Quality-Value, Inc maintains a gross margin of 75 on all of its merchandise. In September the company had a beginning inventory of 604,900, net purchases of 186,900, and net sales of 487,600. Use the gross profit method to estimate the cost of ending inventory as of September 30.
 A) 200,561
  B) 418,300
  C) 691,800
  D) 669,900