Sales revenue 445000 Sales Discount 15000 COGS 337900 Work in process inventory was 12000 at January 1 and 15500 at December 31. Finished goods inventory was 60000 at January 1 and 45600 at December 31. Compute gross profit.Single line text.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ABC Ltd. incurred the following costs while manufacturing its product. Property taxes on store 7500 Advertising expense 45000 Delivery expense 21000 Sales commissions 35000 Salaries paid to sales clerks 50000 Sales revenue 445000 Sales Discount 15000 COGS 337900 Work in process inventory was 12000 at January 1 and 15500 at December 31. Finished goods inventory was 60000 at January 1 and 45600 at December 31. Compute gross profit.Single line text.

 
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