A Company Has Sales of $2,530,000,sales Discounts of $200,000,sales Returns

question 125

Short Answer

A company has sales of $2,530,000,sales discounts of $200,000,sales returns and allowances of $323,000,shipping charges of $115,000,sales commissions of $234,000,net income of $863,500,and cost of goods sold of $1,012,000.What is the gross profit/margin for the period?

---

Definitions:

Difference

The outcome of deducting one figure from another.

Algebraic Expression

An expression built from constants, variables, and a finite number of algebraic operations (e.g., addition, subtraction, multiplication, division).

Square

A polygon with four equal sides and four right angles.

Algebraic Expression

A combination of numbers, variables, and operations (such as addition, multiplication) that represents a specific value.