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

question 10

Multiple Choice

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

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

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