Determine the gross profit

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Question - The following data were taken from the accounts of Fluter Hardware, a small retail business.

Sales $121,500

Sales returns and allowances 910

Sales discounts 710

Merchandise inventory, January 134,900

Purchases during the period 77,100

Purchases returns and allowances during the period 4,040

Purchases discounts taken during the period 2,380

Freight-in on merchandise purchased during the period 1,280

Merchandise inventory, December 3132,300

Determine the gross profit.

Reference no: EM132602878

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