High Quality Jewelers uses the perpetual inventory system.On March 3,High Quality sold merchandise for $55,000 to a customer on account with terms 4/15,n/30.The cost of goods sold was $22,000.On March 18,High Quality received payment from the customer.Calculate the amount of gross profit.
A) $52,800
B) $33,000
C) $30,800
D) $22,000
Correct Answer:
Verified
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