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Computers and more offers discounts to its customers and allows the customer to return the product if they are not satisfied. Computers and more had
Computers and more offers discounts to its customers and allows the customer to return the product if they are not satisfied. Computers and more had sales of $ 865,000 and offers the customer a payment term of 3/12 n / 30. The company received $ 10,000 in returned items. Cost of goods sold for the period after returns was $ 320,000. Operational expenses are $ 50,000. Calculate gross profit and net profit.
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