Munich Shoes' sales totaled $12,000,000 for 2016. Information concerning Munich's gross profit under three inventory costing methods follows:
Compute the gross profit margin for each costing method. What method shows the highest gross profit? Explain the reasoning behind this.

Question

Munich Shoes' sales totaled $12,000,000 for 2016. Information concerning Munich's gross profit under three inventory costing methods follows:
  Compute the gross profit margin for each costing method. What method shows the highest gross profit? Explain the reasoning behind this.

Quizplus · Accepted Answer

The Answer of Munich Shoes' sales totaled $12,000,000 for 2016. Information concerning Munich's gross profit under three inventory costing methods follows:
  Compute the gross profit margin for each costing method. What method shows the highest gross profit? Explain the reasoning behind this.

Munich Shoes' Sales Totaled $12,000,000 for 2016