Question: 84 Crystal Inc. is a merchandiser of stone ornaments. It sold 15,000 units in 2015. The company had provided the following information: Sales Revenue $557,000 Purchases (excluding freight in) 300,000 Selling and Administrative Expenses 69,000 Freight In 15,000 Beginning Merchandise Inventory 45,000 Ending Merchandise Inventory 55,700 How much is the gross profit for 2015?
Question: 84 Crystal Inc. is a merchandiser of stone ornaments. It sold 15,000 units in 2015. The company had provided the following information: Sales Revenue $557,000 Purchases (excluding freight in) 300,000 Selling and Administrative Expenses 69,000 Freight In 15,000 Beginning Merchandise Inventory 45,000 Ending Merchandise Inventory 55,700 How much is the gross profit for 2015?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 33BE
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
Transcribed Image Text:Question: 84
Crystal Inc. is a merchandiser of stone ornaments. It sold 15,000 units in 2015. The company
had provided the following information:
Sales Revenue $557,000
Purchases (excluding freight in) 300,000
Selling and Administrative Expenses 69,000
Freight In 15,000
Beginning Merchandise Inventory 45,000
Ending Merchandise Inventory 55,700
How much is the gross profit for 2015?
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