Question
Asked Feb 24, 2020
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Adams Company is a manufacturing company that has worked on several production jobs during the first quarter of the year. Below is a list of all the jobs for the quarter:

  Balance
Job 356 $450    
Job 357 1,235    
Job 358 378    
Job 359 689    
Job 360 456    

Jobs 356, 357, 358, and 359 were completed. Jobs 356 and 357 were sold at a profit of $500 on each job.

What is the gross profit for Adams Company at the end of the first quarter?

a.$685
b.$1,000
c.$1,685
d.$2,685
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Gross profit: Gross profit is a profit for a company arrived after deducting cost associated with production a...

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