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Nothing But Love, Co. provided the following information for the current period:
Sales | $56,200 |
Selling and Administrative expenses | $5,900 |
Finished Goods Inventory, beginning balance | $19,900 |
Finished Goods Inventory, ending balance | $17,300 |
Cost of goods manufactured | $35,700 |
Calculate the Gross Profit for the firm for the period.
| a. | $23,100 |
| b. | $12,000 |
| c. | $14,600 |
| d. | $17,900 |
| e. | $20,500 |
Answer & Explanation
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