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Which operating income will result if gross profit exceeds

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Reference no: EM132739217

Problem 1: Operating income will result if gross profit exceeds

a. cost of goods sold

b. cost of goods sold plus operating expenses

c. operating expenses

d. Operating expenses plus finance cost

Problem 2: Which of the following items can lead to a difference between the values of profit and gross profit?

a. sales returns

b. purchases returns

c. transportation in

d. transportation out

Reference no: EM132739217

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