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Assume that Sales 40000, Sales Retums-2000, Cost of goods sold-22000 selling and administrative expenses-15000 the net income will be 14000 profit 2000 profit 1000 profit

Assume that Sales 40000, Sales Retums-2000, Cost of goods sold-22000 selling and administrative expenses-15000 the net income will be 14000 profit 2000 profit 1000 profit 16000 profit 1000 loss

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