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pickupchik [31]
3 years ago
5

Sales revenue $350,000 Accounts receivable $280,000 Ending inventory $230,000 Cost of goods sold $180,000 Sales returns $50,000

Sales discount $20,000 What is the gross profit?
Business
1 answer:
sesenic [268]3 years ago
4 0

Answer:

$100,000

Explanation:

The computation of gross profit is shown below:-

Gross profit = (Sales revenue - Sales return - Sales discount) - Cost of goods sold

= ($350,000 - $50,000 - $20,000) - $180,000

= $280,000 - $180,000

= $100,000

Therefore we simply applied the above formula for determining the gross profit

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