Chapter 13, Problem 40P

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The following amounts have been extracted from the accounts of Sell-It at its year-end, December 31, 20x9: Sales $50,000 Cost of Goods Sold $35,000 Inventory Account Payable $10,000 $8,000 The gross profit that Sell-it would report is: a. $40,000 b. None of the other alternatives are correct c. $7,000 d. $15,000 e. $50,000

Which one of the following factors would cause the gross profit % to rise? A. Increasing sales B. Increasing costs C. Increased competition D. Increased supplier discounts

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Subject: Accounting problem

General accounting