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Swifty Corporation had the following information at December 31: Finished goods inventory, January 1 $ 30000 Finished goods inventory, December 31 150000 If the cost
Swifty Corporation had the following information at December 31:
Finished goods inventory, January 1 | $ 30000 |
Finished goods inventory, December 31 | 150000 |
If the cost of goods manufactured during the year amounted to $2200000 and annual sales were $2750000, the amount of gross profit for the year is
A. $670000.
B. $2080000.
C. $430000.
D. $550000.
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