Question
A business has sales of $455,000, purchases of $225,000, a beginning inventory of $150,000 and an ending inventory of $118,000. Calculate gross profit. a) $257,000
A business has sales of $455,000, purchases of $225,000, a beginning inventory of $150,000 and an ending inventory of $118,000. Calculate gross profit.
a) $257,000
b) $75,000
c) $230,000
d) $198,000
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
