A company has sales of $1,500,000,sales discounts of $102,000,sales returns and allowances of $123,000,shipping charges of $15,000,sales commissions of $34,000,net income totaled $263,500,and cost of goods sold of $420,000.What is the gross profit/margin for the period?
A)$ 806,000
B)$1,031,000
C)$1,182,000
D)$1,080,000
E)$ 855,000

Question

Quizplus · Accepted Answer

1,500,000-102,000-123,000 = 1,275,000 - 420,000 = 855,000

A Company Has Sales of $1,500,000,sales Discounts of $102,000,sales Returns