Reference no: EM132602878
Question - The following data were taken from the accounts of Fluter Hardware, a small retail business.
Sales $121,500
Sales returns and allowances 910
Sales discounts 710
Merchandise inventory, January 134,900
Purchases during the period 77,100
Purchases returns and allowances during the period 4,040
Purchases discounts taken during the period 2,380
Freight-in on merchandise purchased during the period 1,280
Merchandise inventory, December 3132,300
Determine the gross profit.
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