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The Following Data Is Available - Using the Gross Profit Method,the Amount of Gross Profit

Question 149

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The following data is available:  Net sales, first month $13,000 Normal gross profit 45% Beginning inventory 8,000 Net purchases 7,000\begin{array} { | r | r | } \hline \text { Net sales, first month } & \$ 13,000 \\\hline \text { Normal gross profit } & 45 \% \\\hline \text { Beginning inventory } & 8,000 \\\hline \text { Net purchases } & 7,000 \\\hline\end{array}
- Using the gross profit method,the amount of Gross profit would be:


A) $15,000.
B) $6,750.
C) $5,850.
D) $3,600.

Correct Answer:

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