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  3. ining gross profit during the current year, mercha

ining Gross Profit During the current year, merchandise is sold for $649,000. The cost of...

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Accounting

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ining Gross Profit During the current year, merchandise is sold for $649,000. The cost of the goods sold is $402,380 a. What is the amount of the gross profit? b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number c. When will the income statement report net income

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