Answered: Blossom Corp. has annual sales totaling…

Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit? $286500. $171900. $229200. $191000.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EB: During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of...

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Question

Blossom Corp. has annual sales totaling $1146000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit?

$286500.

$171900.

$229200.

$191000.

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