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Question:43 Cushman Company, Inc. had $800.000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals: a. $115,000. b. $390,000. c. $402,000. d. $408,000.

Question:43 Cushman Company, Inc. had $800.000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals: a. $115,000. b. $390,000. c. $402,000. d. $408,000.

Intermediate Accounting: Reporting And Analysis
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:43 Cushman Company, Inc. had $800.000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals: a. $115,000. b. $390,000. c. $402,000. d. $408,000.
Transcribed Image Text:Question:43 Cushman Company, Inc. had $800.000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals: a. $115,000. b. $390,000. c. $402,000. d. $408,000.
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