Hanover Shoes' sales totaled $8,000,000 for the year. Information concerning Hanover's gross profit under three inventory costing methods follows:

Compute the gross profit percentage for each costing method. Which method shows the highest gross profit?

Question

Hanover Shoes' sales totaled $8,000,000 for the year. Information concerning Hanover's gross profit under three inventory costing methods follows: 
  
Compute the gross profit percentage for each costing method. Which method shows the highest gross profit?

Quizplus · Accepted Answer

The Answer of Hanover Shoes' sales totaled $8,000,000 for the year. Information concerning Hanover's gross profit under three inventory costing methods follows: 
  
Compute the gross profit percentage for each costing method. Which method shows the highest gross profit?

Hanover Shoes' Sales Totaled $8,000,000 for the Year