Given the information below, what is the gross profit? Sales revenue $ 3,05,000 Accounts receivable 53,000 Ending inventory 1,19,000 Cost of goods sold 2,38,000 Sales returns 21,000 a. $49,000 b. $165,000 c. $67,000 d. $46,000

Given the information below, what is the gross profit? Sales revenue $ 3,05,000 Accounts receivable 53,000 Ending inventory 1,19,000 Cost of goods sold 2,38,000 Sales returns 21,000 a. $49,000 b. $165,000 c. $67,000 d. $46,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

gross profit is??

Given the information below, what is the gross profit?
Sales revenue
$ 3,05,000
Accounts receivable
53,000
Ending inventory
1,19,000
Cost of goods sold
2,38,000
Sales returns
21,000
a. $49,000
b. $165,000
c. $67,000
d. $46,000

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