Question
A company reported the following: Cost of Goods Sold $274,000 General, Selling and Administrative Expenses 14,000 Income Tax Expense 4,590 Inventory 16,500 Net Income 94,360
A company reported the following:
Cost of Goods Sold $274,000
General, Selling and Administrative Expenses 14,000
Income Tax Expense 4,590
Inventory 16,500
Net Income 94,360
Sales Revenue 395,000
Sales Discounts 5,000
Sales Returns and Allowances 3,050
| What is the amount of gross profit? |
$98,950
$121,000
$112,950
$108,360
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Comparative international accounting
Authors: Christopher nobes, Robert parker
9th Edition
273703579, 978-0273703570
