Multiple Choice
What does the gross profit percentage indicate in relation to net sales?
20
views
4. Merchandising Operations
Net Sales
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Jenna bought 8 pounds of apples for $20. What is the unit price per pound of apples?
A
$3.00 per pound
B
$2.50 per pound
C
$1.50 per pound
D
$2.00 per pound
Verified step by step guidance1
Step 1: Understand the problem. Jenna bought 8 pounds of apples for $20, and we need to calculate the unit price per pound of apples.
Step 2: Recall the formula for unit price. Unit price is calculated as the total cost divided by the total quantity. Mathematically, this can be expressed as:
Step 3: Substitute the given values into the formula. The total cost is $20, and the total quantity is 8 pounds. The formula becomes:
Step 4: Perform the division to find the unit price. Divide 20 by 8 to determine the cost per pound of apples.
Step 5: Compare the calculated unit price to the provided options ($3.00, $2.50, $1.50, $2.00) to identify the correct answer.
9:04mWatch next
Master Net Sales:Sales Discounts (Gross Method) with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
