39. The gross profit of Reade Company for each of the years ended December 31, 20PYand 20CY, are as follows:20PY20CYSalesP792,000PB00,000Cost of goods sold464.000480.000Gross profitP328.0002320 000Assuming that selling prices were 10% lower during 200Y, what would be the amounlof decrease in gross profit due to the change in selling price?P 8,000b. P72,000P79,200d. P88,000a.C.(aicpа)

We have to find the change in gross profit due to a change in selling price. The Cost of goods sold…

39. The gross profit of Reade Company for each of the years ended December 31, 20OPY. and 20CY, are as follows: 20PY 20CY Sales P792,000 PB00,000 Cost of goods sold 464.000 480.000 Gross profit 2328.000 2320.000 Assuming that selling prices were 10% lower during 20CY, what would be the amount of decrease in gross profit due to the change in selling price? P 8,000 a.

39. The gross profit of Reade Company for each of the years ended December 31, 20OPY. and 20CY, are as follows: 20PY 20CY Sales P792,000 PB00,000 Cost of goods sold 464.000 480.000 Gross profit 2328.000 2320.000 Assuming that selling prices were 10% lower during 20CY, what would be the amount of decrease in gross profit due to the change in selling price? P 8,000 a.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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