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What is the expected gross profit

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Reference no: EM132602898

Question 1: Vandelay Industries had sales of $350,000 in 2015. It expects sales to increase 10% in 2016, 8% in 2017, and 5% in 2018. It consistently maintains cost of goods sold at 85% of sales. What is the expected gross profit in 2018?

Group of answer choices

Option 1: $371,102

Option 2: $65,489

Option 3: $55,125

Option 4: $139,090

Reference no: EM132602898

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