Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales? A. 260,000 B. 180,000 C. 240,000 D. 280,000

Peace Inc. has the following information: Sales P 480,000 Operating expenses 300,000 Net loss (60,000) How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales? A. 260,000 B. 180,000 C. 240,000 D. 280,000

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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Question

Peace Inc. has the following information:

Sales P 480,000

Operating expenses 300,000

Net loss (60,000)

How much is Peace Inc.'s gross profit if its gross profit is 50% based on sales?

A. 260,000
B. 180,000
C. 240,000
D. 280,000

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