45. A company has sales of S695.000 and cost of goods sold of S278.000. Its gross profit equals: $(417000). O $695,000. O $278.000. O $417000 O $973.000 46. Merchandise inventory O is a long.term asset O is a current asset. O Includes supplies the company will use In future periods. O Is classified with investments on the balance sheet. O mus: be sold within one month. 47