Given the information below, what is the gross profit? Sales revenue $330,000 Accounts receivable 55,000 Ending inventory 119,000 Cost of goods sold 241,000 Sales returns a. $71,000 b. $190,000 c. $89,000 d. $68,000 21,000

Given the information below, what is the gross profit? Sales revenue $330,000 Accounts receivable 55,000 Ending inventory 119,000 Cost of goods sold 241,000 Sales returns a. $71,000 b. $190,000 c. $89,000 d. $68,000 21,000

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

Need answer the accounting question not use chatgpt

Given the information below, what is the gross profit?
Sales revenue
$330,000
Accounts receivable 55,000
Ending inventory
119,000
Cost of goods sold 241,000
Sales returns
a. $71,000
b. $190,000
c. $89,000
d. $68,000
21,000

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