Question

Refer to the following table:

What is the gross profit?

Sales revenue $750,000
Cost of goods sold 406,000
Beginning inventory 75,000
Purchase discounts 20,000
Sales returns and allowances 44,000
Operating expenses 99,000
Ending inventory 72,000
Purchases of inventory 415,000
Sales discounts 25,000
William Browning, withdrawals 61,000
Purchase returns and allowances 36,000

Answer 1

Answer:

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