The following information is available for Coswell Industries. Operating expenses amount to $25,240. Sales revenue...
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Accounting
The following information is available for Coswell Industries. Operating expenses amount to $25,240. Sales revenue is $257,640. Sales returns and allowances amount to $14,940. COGS is $153,420. A gain of $7,000 was realized on the sale of plant assets. Based on this, gross profit is
a.$64,040
b.$71,040
c.$89,280
d.$104,220
e.$111,220
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