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Assume Monty Corp. has the following reported amounts: Sales revenue $796,000, Sales returns and allowances...

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Accounting

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Assume Monty Corp. has the following reported amounts: Sales revenue $796,000, Sales returns and allowances $23,000, Cost of goods sold $517,910, and Operating expenses $171,600. (a) Compute net sales. Net sales $ (b) Compute gross profit. Gross profit $ (c) Compute income from operations. Income from operations $ (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2\%.) Gross profit rate %

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