[Solved] During the current year, merchandise sold

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During the current year, merchandise sold for $775,000. The cost of the merchandise sold was $426,250. (a) What is the amount of gross profit? (b)

During the current year, merchandise sold for $775,000. The cost of the merchandise sold was $426,250.

(a) What is the amount of gross profit?

(b) What is the gross profit percentage (gross profit divided by sales)?

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