A Company Has Sales of $1,500,000,sales Discounts of $102,000,sales Returns

question 71

Multiple Choice

A company has sales of $1,500,000,sales discounts of $102,000,sales returns and allowances of $123,000,shipping charges of $15,000,sales commissions of $34,000,net income totaled $263,500,and cost of goods sold of $420,000.What is the gross profit/margin for the period?

• A)$ 806,000
• B)$1,031,000
• C)$1,182,000
• D)$1,080,000
• E)$ 855,000

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Definitions:

Functional Groupings

A method of classifying and organizing various functions, tasks, or items based on common characteristics or objectives.

Geographical Groupings

The classification of areas or locations based on shared geographical, cultural, or administrative traits, often used in data analysis and marketing strategies.

Market-Based Groupings

Classification of markets, products, or customers based on shared characteristics or behaviors in a commercial context.

Market-Based Groupings

Classification of customers or products based on market-related factors such as geographic location, customer type, or product usage, allowing for targeted marketing strategies.