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Determining Gross Profit During the current year, merchandise is sold for $709,000. The cost of the goods sold is $389,950. a. What is the amount

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Determining Gross Profit During the current year, merchandise is sold for $709,000. The cost of the goods sold is $389,950. a. What is the amount of the gross profit? b. Compute the gross profit percent. Round to the nearest whole number. % c. Which of the following is true, based on the above information

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