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During 2020 Ficus Store had sales of $72,000; cash received of $70,000 of which $2,000 was classified as unearned revenue; cost of goods sold of
During 2020 Ficus Store had sales of $72,000; cash received of $70,000 of which $2,000 was classified as unearned revenue; cost of goods sold of $24,000; and cash paid for inventory of $18,000. What was Ficus's gross profit for the year? O $48,000 O $46,000 $40.000 $42.000 O None of the above
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