Determine gross profit. Help please?

1 ⤊

Determine gross profit. Help please?

During the current year, merchandise is sold for $127,500 cash and $435,600 on account. The cost of the merchandise sold is $422,325. What is the amount of the gross profit?

2007-12-24 06:05:16 · 2 answers · asked by spanishfly_100 1 in Business & Finance ➔ Other - Business & Finance

2 answers

Total sales = cash sales + credit sales
Total sales = $563,100
COGS = $422,325
Gross profit = $140,775

2007-12-24 12:38:49 · answer #1 · answered by Sandy 7 · 1⤊ 0⤋

$140,775

2007-12-24 06:11:52 · answer #2 · answered by vipermind 2 · 0⤊ 0⤋