Question
The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012. Purchases
The following information pertains to Bright Toy Company's operating activities for 2012. The company sells light box toys and sold 10,000 units in 2012.
| Purchases | $126,000 |
| Selling and Administrative Expenses | 90,000 |
| Merchandise inventory, 1/1/2012 | 14,000 |
| Merchandise inventory, 12/31/2012 | 10,000 |
| Sales Revenue | 250,000 |
What is the gross profit for 2012?
| Your answer: | |
|---|---|
| $120,000 | |
| $130,000 | |
| $140,000 | |
| $136,000 | |
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Contemporary Auditing
Authors: Michael C. Knapp
11th edition
1305970810, 9781337514811, 1337514810, 978-1305970816
