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Question 7 (1 point) Question 4) Which of the following statements is false? b. Freight costs for goods shipped FOB destination are paid by the
Question 7 (1 point) Question 4) Which of the following statements is false? b. Freight costs for goods shipped FOB destination are paid by the seller. c. Freight costs for goods shipped FOB shipping point are paid by the purchaser. d. Freight costs paid by the purchaser are debited to Delivery Expense. e. none of the statements is fall a. Freight costs paid by the seller are debited to Freight out. Question 11) You are provided with the following information. Cost of goods sold $440,000 Income tax expense $67,200 Operating expenses $350,800 Sales $1,100,000. The gross profit would be: d. $254,800. Oe. $366,800 O b. $756,000. O a. $598,000. c $660,000
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