EBK FINANCIAL ACCOUNTING: AN INTRODUCTI
14th Edition
ISBN: 8220100453953
Author: Francis
Publisher: YUZU
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Suppose Austin Sound had sales of $300,000 and sales returns of
$45,000. The cost of goods sold was $152,000. How much gross profit
did Austin Sound report?
a. $148,000
b. $103,000
c. $255,000
d. $88,000
Which of the following is an example of a period cost for a
manufacturing company?
A. Property taxes for the factory
B. Advertising expense
C. Depreciation on factory equipment
D. Indirect materials
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