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Headache Co.'s records show the following information: 15. Purchases Purchase returns Purchase discounts Beginning inventory Ending inventory Freight-in Freight-out Commissions paid to sellers on sales 500,000 25,000 10,000 60,000 75,000 60,000 40,000 Sales 200,000 1,000,000 Sales discounts Sales returns 50,000 10,000

Headache Co.'s records show the following information: 15. Purchases Purchase returns Purchase discounts Beginning inventory Ending inventory Freight-in Freight-out Commissions paid to sellers on sales 500,000 25,000 10,000 60,000 75,000 60,000 40,000 Sales 200,000 1,000,000 Sales discounts Sales returns 50,000 10,000

FINANCIAL ACCOUNTING
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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15. Headache Co.'s records show the following information: Purchases Purchase returns Purchase discounts Begirnning inventory Ending inventory Freight-in Freight-out Commissions paid to sellers on sales 500,000 25,000 10,000 60,000 75,000 60,000 40,000 200,000 Sales 1,000,000 Sales discounts Sales returns 50,000 10,000 How much is the gross profit? a. 190,000 b. 230,000 c. 430,000 d. 490,000
Transcribed Image Text:15. Headache Co.'s records show the following information: Purchases Purchase returns Purchase discounts Begirnning inventory Ending inventory Freight-in Freight-out Commissions paid to sellers on sales 500,000 25,000 10,000 60,000 75,000 60,000 40,000 200,000 Sales 1,000,000 Sales discounts Sales returns 50,000 10,000 How much is the gross profit? a. 190,000 b. 230,000 c. 430,000 d. 490,000
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