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Help Save & TB Problem 6-196(Algo) During its first month of operations, ... ...

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Accounting

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Save &
TB Problem 6-196(Algo) During its first month of operations, ...
During its first month of operations, Purfect Pets purchased 5,900 bags of dog food at a cost of $3 a bag and sold all 5,900 bags of dog food on account with payment terms of 210,n30 for $12 each. A total of 2,900 of these bags were sold to customers who paid within the discount period; the other customers paid after the discount period had ended. Sales allowances totaling $240 were granted to customers whose dogs did not like the dog food.
Required:
a. Calculate the gross profit for the month.
b. Calculate the gross profit percentage for the month.
Complete this question by entering your answers in the tabs below.
Required A
Calculate the gross profit for the month.
Gross Profit
Required B
Calculate the gross profit percentage for the month. (Round your answer to 1 decimal place (i.e,0.1234 shoukd be entered ad 12.3)).
Gross Profit Percentage
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