Question: 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? a. $257,000 b. $183,700 c. $304,300 d. $252,700
Question: 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? a. $257,000 b. $183,700 c. $304,300 d. $252,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question:
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?
a. $257,000
b. $183,700
c. $304,300
d. $252,700
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