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    Calculate gross profit and gross margin

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    Looking for the gross profit and gross margin from the following data:

    Inventory 12/31 $25,000
    Purchase $120,000
    Freight-in $5,000
    Sales $225,000
    Property tax $10,000
    Depreciation $20,000
    Insurance $8,000
    Salary-Sales staff $20,000
    Advertising $6,000

    © BrainMass Inc. brainmass.com June 4, 2020, 1:38 am ad1c9bdddf
    https://brainmass.com/business/accounting/calculate-gross-profit-gross-margin-411702

    Solution Preview

    Revenues
    Sales---$225,000
    Cost of goods Sold
    Purchases---------------$120,000
    Inventory ...

    Solution Summary

    The expert examines calculate gross profit and gross margin.

    $2.19

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