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Andrews [41]
3 years ago
12

Calculate gross profit for the following situation: National Storage Company had sales of $1,000,000, sales discounts of $2,500,

sales returns and allowances of $15,000, and a cost of goods sold of $525,000.
Business
1 answer:
Pie3 years ago
3 0

Answer:

$475,500

Explanation:

Sales is $1,000The discountscount is $2500

Sales return and allowances are $15,000

The cost of goods sold is $525,000

Therefore the gross profit can be calculated as follows

= 1,000,000-2,500-15,000-525,000

= 457,500

Hence the gross profit is $475,500

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