Income Statement and Accounts for Merchandiser For the fiscal year, The total amount charged to customers...
Income Statement and Accounts for Merchandiser
For the fiscal year, The total amount charged to customers for merchandise sold, including cash sales and sales on account.sales were $5,761,000 and the The cost that is reported as an expense when merchandise is sold.cost of goods sold was $3,341,000.
a. What was the amount of Net sales minus the
cost of goods sold.gross profit?
$
Homework Answers
Gross Profit = Sales - Cost of Goods Sold
= $5,761,000 - $3,341,00
= $ 2,420,000
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Income Statement and Accounts for Merchandiser
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