Calculator eBook Show Me How Computing Gross Profit The following data were taken from the accounts of Fluter Hardware, a small retail business. Sales $119,800 Sales returns and allowances 980 Sales discounts 560 Merchandise inventory, January 1 34,500 Purchases during the period 77,200 Purchases returns and allowances during the period Purchases discounts taken during the period 2,180 Freight-in on merchandise purchased during the period 1,320 Merchandise inventory, December 31 31,800 4,290 Determine the gross profit. 1 x Feedback Check My Work Refer to Figure 11-7 in the text. Check My Work All work saved. MacBook Air