From the Following Data,calculate the Amount of Gross Margin and Gross

question 25

Short Answer

From the following data,calculate the amount of gross margin and gross purchases.
$\begin{array}{llr} \text { Ending Merchandise Inventory} &\$128\\ \text { Purchases Returns and Allowances } &32\\ \text {Beginning Merchandise Inventory } &160\\ \text { Sales } &1,280\\ \text { Freight-In } &96\\ \text { Cost of Goods Sold } &778\\\text { Purchases Disconuts }&16\end{array}$

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Definitions:

Privilege

In tort law, the ability to act contrary to another person’s right without that person’s having legal redress for such acts. Privilege may be raised as a defense to defamation.

Negative Review

A critical evaluation or comment, typically public, expressing dissatisfaction with a product or service.

Slander Of Quality

The publication of false information about another’s product, alleging that it is not what its seller claims; also called trade libel.

Slander Of Title

The publication of a statement that falsely denies or casts doubt on another’s legal ownership of property, causing financial loss to that property’s owner.