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If sales revenues are $400,000, cost of goods sold is $310,000 and operating expenses are $60,000, the gross profit is a) 400,000 b) 340,000 c) 30,000 d) 90,000
If sales revenues are $400,000, cost of goods sold is $310,000 and operating expenses are
$60,000, the gross profit is
a) 400,000
b) 340,000
c) 30,000
d) 90,000
Expert Solution
Computation of the gross profit:-
Gross profit = Sales revenue - Cost of goods sold
Here,
Sales revenue = $400,000
Cost of goods sold = $310,000
Gross profit = $400,000 - $310,000
= $90,000
Hence, the correct option is d) $90,000
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