Determine the gross profit

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Reference no: EM133496362

Question: The following data were taken from the accounts of Burnside Bedknobs, a retail business. Sales $116,500 Sales returns and allowances 1,110 Sales discounts 410 Merchandise inventory, January 1 31,500 Purchases during the period 105,700 Purchases returns and allowances during the period 1,840 Purchases discounts taken during the period 2,820 Freight-in on merchandise purchased during the period 1,450 Merchandise inventory, December 31 50,700 Determine the gross profit.

Reference no: EM133496362

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