The following data were taken from the accounts ofBurnside Bedkn


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The following data were taken from the accounts ofBurnside Bedkn 1 answer below » The following data were taken from the accounts ofBurnside Bedknobs, a retail business. Determine the gross profit. Sales …………………………………..………….. $116,900 Sales returns and allowances ……………..………….. 1,100 Sales discounts ………………………………………….. 400 Merchandise inventory, January 1 ………………..……. 30,000 Purchases during the period ………………………….. 100,000 Purchases returns and allowances during the period …… 2,000 Purchases discounts taken during the period …………… 2,800 Freight-in on merchandise purchased during the period … 1,500 Merchandise inventory, December 31 ………………….. 50,000 Oct 11 2013 07:53 AM

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