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A company reports sales of $1,070,000 , sales discounts of $3,600 , sales returns and allowances of $12,600 , cost of goods sold of $535,000
A company reports sales of
$1,070,000
, sales discounts of
$3,600
, sales returns and allowances of
$12,600
, cost of goods sold of
$535,000
, general and administrative expenses of
$25,000
, and selling expenses of
$40,000
.\ Compute gross profit.
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