Gross Profit Computation Thunder Company reported inventory of $36,000 at January 1 and $47,000 at December 31.
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Gross Profit Computation Thunder Company reported inventory of $36,000 at January 1 and $47,000 at December 31. A total of $208,000 of inventory was purchased during the year. Sales returns of $14,000 were experienced on total sales of $341,000. Special sales allowances of $9,000 were given to long-standing customers. Compute gross profit for Thunder Company for the year.
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Saud Ur Rehman
Evaluating manufacturing processes by designing and conducting research programs; applying knowledge of product design, fabrication, assembly, tooling, and materials; conferring with equipment vendors; soliciting observations from operators. Developing manufacturing processes by studying product requirements; researching, designing, modifying, and testing manufacturing methods and equipment; conferring with equipment vendors. Keeping equipment operational by coordinating maintenance and repair services; following manufacturer's instructions and established procedures; requesting special service.
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Related Book For 
Financial Accounting A Decision Making Approach
ISBN: 9780471328230
2nd Edition
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith
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