Ask Question
18 November, 01:54

Baco opens its business in 20x2 and purchases merchandise on account for $88000. In 20x2, baco pays $67000 cash on the $88000 due, sales are $145000 and ending inventory is $24000. Baco gross profit for 20x2 is?

+1
Answers (1)
  1. 18 November, 03:40
    0
    Answer:$81,000

    Explanation:

    Sales is $145,000

    Less:

    Cost of goods sold is purchases less closing inventory

    $88,000 - $24,000

    = $64,000

    Gross profit = $145,000 - $64,000

    = $81,000
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Baco opens its business in 20x2 and purchases merchandise on account for $88000. In 20x2, baco pays $67000 cash on the $88000 due, sales ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers