the company's gross profit on the following sales $48,000 sales returns and allowances $6000 operating expenses $6,200 beginning inventory of $900 net purchases $9100 ending inventory $2,300

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26-03-2017
Business

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the company's gross profit on the following sales $48,000 sales returns and allowances $6000 operating expenses $6,200 beginning inventory of $900 net purchases $9100 ending inventory $2,300

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taskmasters taskmasters · Answer 1 · 2017-04-07T22:27:01+02:00

Sales: 48,000
Sales returns and allowances: ( 6,000)
Net Sales 42,000

Cost of Sales:
Beginning Inventory: 900
net purchases 9100
ending inventory (2,300) (7,700)
Gross Margin 35,000
Operating Expenses (6,200)
Gross profit 28,800