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Assume Windsor, Inc. has the following reported amounts: Sales revenue $1,688,000, Sales returns and allowances...

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Question

Accounting

Assume Windsor, Inc. has the following reported amounts: Sales revenue $1,688,000, Sales returns and allowances $50,000, Cost of goods sold $1,104,012, and Operating expenses $364,100,
(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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