A company had sales revenue of $900,000 for the year. In addition, the following information is available related to the cost of the units sold: Total purchase cost$480,000 Freight charges 10,000 Purchase discounts 25,000 Purchase returns 50,000 Operating expenses 200,000 For what amount would the company report gross profit?
A. $410,000.
B. $485,000.
C. $420,000.
D. $285,000.
Answer: B
Business
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