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QUESTION 24 Multiple Choice: Choose the one best answer Merchandise Formulas: Formula #1: Gross Profit plus Cost of Goods Sold equals Net Sales Formula #2:

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QUESTION 24 Multiple Choice: Choose the one best answer Merchandise Formulas: Formula #1: Gross Profit plus Cost of Goods Sold equals Net Sales Formula #2: Beginning Inventory plus Net Purchases equals Gross Profit O Both formulas are correct. Both formulas are not correct. One formula is correct

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