Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Operating Expenses was P45,000, Sales Returns and Allowances was P13,000,Sales Discounts was P6,000,Sales was P150,000, and Cost of Goods Sold was P67,000 The gross profit

Operating Expenses was P45,000, Sales Returns and Allowances was P13,000,Sales Discounts was P6,000,Sales was P150,000, and Cost of Goods Sold was P67,000 The gross profit rate would be

A).489.

 B).535

C).553.

 D).511.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below To calculate the gross profi... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Physical Chemistry

Authors: Thomas Engel, Philip Reid

3rd edition

805338423, 080533842X, 978-0321812001

More Books

Students also viewed these Accounting questions

Question

Show how the mendelow theory is used in product category management

Answered: 1 week ago