Tuity Fruity Beverage Company's operating activities for the year are listed below.

What is the gross profit for the year?
A)$160,000
B)$300,000
C)$80,000
D)$166,000

Question

Tuity Fruity Beverage Company's operating activities for the year are listed below.

What is the gross profit for the year?
A)$160,000 
B)$300,000 
C)$80,000 
D)$166,000

Quizplus · Accepted Answer

D)Calculations: Beg Inv $12,000 + Purchases $140,000 = Goods available $152,000 - ending inventory $18,000 = Cost of Goods Sold $134,000.Now Sales $300,000 - CGS $134,000 = Gross Profit $166,000

Tuity Fruity Beverage Company's Operating Activities for the Year Are