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During the current year, merchandise is sold for $641,000. The cost of the goods sold...

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Question

Accounting

During the current year, merchandise is sold for $641,000. The cost of the goods sold is $384,600.

a. What is the amount of the gross profit? fill in the blank 1 of 2$

b. Compute the gross profit percentage (gross profit divided by sales). fill in the blank 2 of 2%

c. Will the income statement always report an operating income?

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