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1, 2017, Lotz Company sold merchandise for $12.000, FOB destination, with payment terms of 3/10, m/40 Customer retums on this sale amounted to 55 000

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1, 2017, Lotz Company sold merchandise for $12.000, FOB destination, with payment terms of 3/10, m/40 Customer retums on this sale amounted to 55 000 The company recelved paymont for he On balance on November 10, 2017 The cost of goods sold was $3,000 Calculate the amount of gross profit from these transactions A. S6790 O B. $4000 O C. $9.000 O D. $3.790

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