Wedge Company had a $34,000 beginning inventory and a $40,000 ending inventory. Net sales were $149,000; purchases,$85,000;

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Wedge Company had a $34,000 beginning inventory and a $40,000 ending inventory. Net sales were

$149,000; purchases,$85,000; purchase returns and allowances, $7,000; and freight in, $7,000. Cost of goods sold for the period is $79,000. What is Wedge's gross profit percentage (rounded to the nearest percentage)?

A. 5353% B. 2323% C. 4747% D. 2727%.

Posted Date: Jun 14, 2024 06:15 AM

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Wedge Company had a $34,000 beginning inventory and a $40,000 ending inventory. Net sales were $149,000; purchases,$85,000;

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