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Calculate the Gross Profit for Jefferson Company Based on the Following

Question 65

Multiple Choice

Calculate the gross profit for Jefferson Company based on the following:  Sales $764,000 Selling expenses 42,500 Cost of merchandise sold 538,000\begin{array} { | l | r | } \hline \text { Sales } & \$ 764,000 \\\hline \text { Selling expenses } & 42,500 \\\hline \text { Cost of merchandise sold } & 538,000 \\\hline\end{array}


A) $495,500
B) $183,500
C) $721,500
D) $226,000

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