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A manufacturing company has the following information for the month of June: Beginning inventory: $50,000 Purchases: $150,000 Ending inventory: $40,000 Sales revenue: $300,000 Operating expenses:
- Beginning inventory: $50,000
- Purchases: $150,000
- Ending inventory: $40,000
- Sales revenue: $300,000
- Operating expenses: $100,000 Calculate the company's gross profit, gross profit ratio, net income, and net profit ratio.
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Accounting Information Systems
Authors: Marshall B. Romney, Paul J. Steinbart
12th edition
132552620, 978-0132552622
