During the current year merchandise is sold for 795000.the, Ask an Expert

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During the current year merchandise is sold for $795,000.the cost of the merchandise sold is $477,000.

A-whats is the amount of gross profit?

B-compare the gross profit percentage(gross profit divided by sales)

C-will the income statement necessarily report a net income. Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9410293

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