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On March 1 , Lindsay Co . sold inventory on account for $ 7 1 0 with 2 1 0 , n 3 0
On March Lindsay Co sold inventory on account for $ with terms of
sale. Lindsay Co uses the perpetual approach to account for inventory. The cost of the
inventory sold was $ This is a markup on cost of $ cost plus of $
cost equals $ selling price On March goods with a sales price of $ were returned to
Lindsay by a buyer since they were the wrong color. Buyers paid Lindsay Co the full
remaining amount owed on March What was the gross profit on the inventory sales?
a $
b $
c $
d $
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