The Following Data Is Available - Using the Gross Profit Method,the Amount of Gross Profit

question 149

Multiple Choice

The following data is available: $$\begin{array} { | r | r | } \hline \text { Net sales, first month } & \$ 13,000 \\\hline \text { Normal gross profit } & 45 \% \\\hline \text { Beginning inventory } & 8,000 \\\hline \text { Net purchases } & 7,000 \\\hline\end{array}$$
- Using the gross profit method,the amount of Gross profit would be:

• A) $15,000.
• B) $6,750.
• C) $5,850.
• D) $3,600.

---

Definitions:

Recycled Metals

Metals that have been processed and reformed from previously used materials to reduce waste and environmental impact.

All-Weather

Designed to operate or remain usable in all types of weather conditions.

Communications System

The assembly of hardware, software, and protocols that enable the transmission of data, voice, and video between entities.

Breach

The act of breaking or failing to observe a law, agreement, or code of conduct.