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During the current year, merchandise is sold for $874000. The Gross Profit is $435000. What...

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Accounting

During the current year, merchandise is sold for $874000. The Gross Profit is $435000. What is the amount of the Cost of Merchandise Sold?

For the fiscal year, sales were $7740000, sales discounts were $80000, sales returns and allowances were $70000, and the cost of merchandise sold was $4060000. What was the amount of gross profit?

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