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    lumaya's Avatar
    lumaya Posts: 2, Reputation: 1
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    #1

    Oct 6, 2012, 06:50 PM
    Accounting 1A
    A company has sales of $2,530,000, sales discounts of $200,000, sales returns and allowances of $323,000, shipping charges of $115,000, sales commissions of $234,000, net income totaled $863,500, and cost of goods sold of $1,012,000. What is the gross profit/margin for the period?
    lumaya's Avatar
    lumaya Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Oct 6, 2012, 06:51 PM
    A company has sales of $2,530,000, sales discounts of $200,000, sales returns and allowances of $323,000, shipping charges of $115,000, sales commissions of $234,000, net income totaled $863,500, and cost of goods sold of $1,012,000. What is the gross profit/margin for the period?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #3

    Oct 7, 2012, 04:59 AM
    with all this information you should be able to calculate gross margin

    sales minus cost of sales = gross margin
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