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Calculate the gross profit

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Question - The Purple Inc. had the following information available for 2013: purchases, $70,00; sales, $110,000; freight-in, $7,000; beginning inventory, $50,000; selling, general, and administrative expenses, $10,000; and ending inventory, $46,000 (by a physical count at year end). Calculate the gross profit for 2013.

Reference no: EM132032091

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