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Using the following information for a periodic inventory system, what is the amount of gross profit? Line Item Description Amount Purchases $32,000 Inventory, September 1
Using the following information for a periodic inventory system, what is the amount of gross profit?
| Line Item Description | Amount |
|---|---|
| Purchases | $32,000 |
| Inventory, September 1 | 5,700 |
| Administrative expense | 910 |
| Rent revenue | 1,200 |
| Selling expense | $960 |
| Inventory, September 30 | 6,370 |
| Sales | 63,000 |
| Interest expense | 1,040 |
a.$62,840
b.$25,300
c.$30,600
d.$31,670
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Managerial Accounting For Decision Making
Authors: Seohee Park
1st Edition
B08HCQCN2G
