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Anonymous

Oct 20, 2024

Calculate the gross profit for Jefferson Company based on the following: Sales $764,000 Selling expenses 42,500 Cost of merchandise

Calculate the gross profit for Jefferson Company using the following information:

  • Sales: $764,000
  • Selling Expenses: $42,500
  • Cost of Merchandise Sold: $538,000

What is the gross profit?

a. $721,500
b. $183,500
c. $495,500
d. $226,000

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3 Answers

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Anonymous

Jan 03, 2025

$226,000.00Explanation:The cost of merchandise sold is same as the cost of goods sold, COGS.COGS is calculated using the formula ,  beginning inventory + purchases - closing inventory. Gross profist is calculated as sales - revenue= $764,000 - $538,000=$226,000.00
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Anonymous

Feb 11, 2025

answer; blank(1); /rises; blank(2); //increases;
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Banking

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Finance & Banking Calculus

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