Business
Business, 23.10.2020 15:50, maskythegamer

As the accountant of Race Co., you have been requested to calculate (a) net sales, (b) cost of merchandise sold, (c) gross profit, and (d) net income from the following: gross sales, $40,000; sales returns, $3,000; beginning inventory, $6,000; net purchases, $8,000; ending inventory, $1,000; operating expenses, $9,200.

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As the accountant of Race Co., you have been requested to calculate (a) net sales, (b) cost of merch...

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