Question
For the fiscal year, sales were $12,140,000, sales discounts were $250,000, sales returns and allowances were $80,000, and the cost of merchandise sold was $7,000,000.
For the fiscal year, sales were $12,140,000, sales discounts were $250,000, sales returns and allowances were $80,000, and the cost of merchandise sold was $7,000,000.
a.What was the amount of net sales?
b. what was the amount of gross profit?
What was the amount of gross profit?
What was the amount of gross profit?
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Financial & Managerial Accounting
Authors: Carl Warren
12th Edition
1285534646, 978-1133952428
