A company has gross sales of $215,000, sales returns and allowances of $7,000, sales discounts...
80.2K
Verified Solution
Link Copied!
Question
Accounting
A company has gross sales of $215,000, sales returns and allowances of $7,000, sales discounts of $8,000, cost of goods sold of $120,000, operating expenses of $6,000 and interest expense of $2,000. What is the company's gross profit? $72,000 $74,000 $80,000 $76,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
