Problemduring the current year merchandise sold for 775000, Ask an Expert

Finance

Problem:

During the current year, merchandise sold for $775,000. The cost of the merchandise sold was $426,250.

Required:

Question 1: What is the amount of gross profit?

Question 2: What is the gross profit percentage (gross profit divided by sales)?

Explain comprehensively and show all calculation.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147350

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