Gomez company had a gross profit of 360000 total purchases, Ask an Expert

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Gomez Company had a gross profit of $360,000, total purchases of $420,000, and an ending inventory of $240,000 in its first year of operations as a retailer. Gomez's sales in its first year must have been:

a) $540,000.

b) $660,000.

c) $180,000.

d) $600,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9445155

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