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canucks co. uses a periodic inventory system. given the following information, calculate their gross profit for the year ended Feb 28, 2018: Sales: 489,892, Sales
canucks co. uses a periodic inventory system. given the following information, calculate their gross profit for the year ended Feb 28, 2018: Sales: 489,892, Sales discounts: 30,710, Sales returns and allowances: 17, 458, Selling expenses: 10, 237, Unearned revenue 4,500, Administrative expenses: 136,000, Freight in expense: 9,505, Inventory (Mar 1. 2017): 61,419, Inventory (Feb 28, 2018): 89,204, Purchases: 307,097, Purchase discounts 43,871, Purchase returns and allowances: 23,398
a. $237,634
b. $220,176
c.$229,682
d.$214,439
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