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Determining Gross Profit During the current year, merchandise is sold for $687,000. The cost of the goods sold is $425,940 a. What is the amount

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Determining Gross Profit During the current year, merchandise is sold for $687,000. The cost of the goods sold is $425,940 a. What is the amount of the gross profit? b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole . When will the income statement report net income? My Worlk All work saved Email Instr Dl F3

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