A company had expenses other than cost of goods sold of $175,000.Determine sales and gross profit given cost of goods sold was $622,000 and net loss was ($41,000).
A)Sales: $838,000: Gross Profit: $216,000
B)Sales: $756,000: Gross Profit: $134,000
C)Sales: $797,000: Gross Profit: $756,000
D)Sales: $756,000: Gross Profit: $797,000
E)Sales: $134,000: Gross Profit: $216,000

Question

Quizplus · Accepted Answer

175,000 other expenses - 41,000 net loss = 134,000 gross profit

A Company Had Expenses Other Than Cost of Goods Sold