Given Gross Sales $75,000, Sales Returns and Allowances $4,000, Beginning

question 112

Short Answer

Given gross sales $75,000, sales returns and allowances $4,000, beginning inventory $5,000, net purchases $9,000, ending inventory $3,000, and operating expenses $13,900, calculate:
A. Net sales
B. Cost of merchandise (goods sold)
C. Gross profit from sales
D. Net income.

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Motivation driven by external rewards such as money, fame, grades, or praise rather than by intrinsic factors like personal satisfaction or enjoyment of the task itself.