77 minutes Save Progress Last Saved 201 PM AFTER GROSS PROFIT IS CALCULATED, OPERATING EXPENSES ARE DEDUCTED TO DETERMINE Dnet margin Ogross profit on sales income from operations gross margin 7) WHICH OF THE FOLLOWING EXPRESSIONS IS INCORRECT ( O selling expense adminatranve expenses total operating expenses Soperating expenses-cost of goods sold i gross profe Osales-cost of goods said groes prote gross profe-operating expenses net income IN ORDER TO CLOSE THE OWNERS DRAWING ACCOUNT THE p Sowner's pital account should be debited owners capital account should be credited Dome summary account should be income summary account should be debited THE COST FLOW METHOD THAT OFTEN PARALLELS THE ACTUAL PHYSICAL FLOW OF MERCHANDGES THE Goth of 102 THE LUE OF INVENTORY Lymco ITS WRITTEN DOWN Exam