The condensed income statement for the Consumer Products Division of Fargo Industries Inc. is as follows (assuming no service department charges) : Sales $82,500,000 Cost of goods sold 53,625,000 Gross profit $ 28,875,000 Administrative expenses
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Juniper company, inc. uses a perpetual inventory system. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 16, it paid the full amount due.
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