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Cost of goods sold............................................ $400,000 Income tax expense............................................ 40,000 Operating expenses............................................ 300,000 Research and development...

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Accounting

Cost of goods sold............................................ $400,000 Income tax expense............................................ 40,000 Operating expenses............................................ 300,000 Research and development costs........................ 30,000 Sales........................................................................ 1,000,000 Sales returns and allowances.......................... 70,000 What is the Gross profit for the period

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