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Need Part A and B answered a During its first month of operations, Purrfect Pets purchased 5,200 bags of dog food at a cost of
Need Part A and B answered
a During its first month of operations, Purrfect Pets purchased 5,200 bags of dog food at a cost of $6 a bag and sold all 5,200 bags of dog food on account with payment terms of 3/10, n/30 for $10 each. A total of 2,100 of these bags were sold to customers who paid within the discount period; the other customers paid after the discount period had ended. Sales allowances totaling $200 were granted to customers whose dogs did not like the dog food. Required: a. Calculate the gross profit for the month. b. Calculate the gross profit percentage for the month. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the gross profit for the month. Gross ProfitStep by Step Solution
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