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    Fundamental Accounting Principles Study Set 1
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    Exam 5: Accounting for Merchandising Operations
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    A Company Had Sales of $350,000 and Cost of Goods
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A Company Had Sales of $350,000 and Cost of Goods

Question 39

Question 39

True/False

A company had sales of $350,000 and cost of goods sold of $200,000. Its gross profit equals
$150,000.

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