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During the current year, merchandise is sold for $6,400,000. The cost of the goods sold is $5,376,000. a. What is the amount of the gross

During the current year, merchandise is sold for $6,400,000. The cost of the goods sold is $5,376,000.

a. What is the amount of the gross profit? $

b. Compute the gross profit percent. %

c. Which of the following is true, based on the above information?

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