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High Quality Jewelers uses the perpetual inventory system. On March 3, High Quality sold merchandise for $50,000 to a customer on account with terms
High Quality Jewelers uses the perpetual inventory system. On March 3, High Quality sold merchandise for $50,000 to a customer on account with terms 5/15, n/30. The cost of goods sold was $20,000 On March 18, High Quality received payment from the customer. Calculate the amount of gross profit OA. $30,000 OB. $20,000 OC. $47,500 OD. $27,500
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