During the current year merchandise is sold for 2450000 the, Managerial Accounting

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During the current year merchandise is sold for 2450000 the

Determine Gross Profit

During the current year merchandise is sold for $2,450,000. The cost of the merchandise sold is $1,519,000.

A . What is the amount of the gross? $__________

B. Compute the gross profit percentage (gross profit divided by sales).______%.

C. When will the income statement report net income? ____________________

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Managerial Accounting: During the current year merchandise is sold for 2450000 the

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