New Hope,Inc How Much Is the Gross Profit for the Year?
A)

Multiple Choice

New Hope,Inc.is a merchandiser of stone ornaments.It sold 15,000 units during the year.The company has provided the following information: $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 535,000 \\\hline \text { Purchases (excluding Freight In) } & 347,000 \\\hline \text { Selling and Administrative Expenses } & 32,500 \\\hline \text { Freight In } & 15,200 \\\hline \text { Beginning Merchandise Inventory } & 43,000 \\\hline \text { Ending Merchandise Inventory } & 56,500 \\\hline\end{array}$$ How much is the gross profit for the year?

A) $218,800
B) $348,700
C) $186,300
D) $188,000