during the first year of operations, AI's fast food restaurant had cash sales of 200,000....
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Accounting
during the first year of operations, AI's fast food restaurant had cash sales of 200,000. other relevent information as follows:
purchases- $70,000
salaries- $90,000
other expenses- $10,000
ending inventory- $20,000
Al's gross profit for the year for tax purposes is 50,000.
T/F. if false, give the correct answer.
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