Crystal Ltd Is a Retailer of Stone Ornaments How Much Is the Gross Profit for 2017?
A) $305,000

Multiple Choice

Crystal Ltd is a retailer of stone ornaments.It sold 15 000 units in 2017.The company has provided the following information:
$$\begin{array} { | l | l | } \hline \text { Sales revenue } & \$ 535,000 \\\hline \text { Purchases (excluding freight in) } & 305,500 \\\hline \text { Selling and administrative expenses } & 37,000 \\\hline \text { Freight in } & 15,500 \\\hline \text { Beginning inventory } & 43,500 \\\hline \text { Ending inventory } & 59,500 \\\hline\end{array}$$
How much is the gross profit for 2017?

A) $305,000
B) $230,000
C) $229,500
D) $267,000