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A trading company, buys and sells merchandise. An abstract of accounting data for 2017 (January to December) is following (in 000 ): Sales 455 Return
A trading company, buys and sells merchandise. An abstract of accounting data for 2017 (January to December) is following (in 000 ):
Sales 455 Return on sales 12 Beginning inventory 85 Ending inventory 65 Freight-in costs 9 Transportation costs to customers 18 Customs duties 3 Purchases 260
1 - Calculate net sales, 2 - Calculate cost of goods sold, 3 - Determine gross profit and gross profit ratio to sales
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