Answered: If sales is $100,000 and the gross…

If sales is $100,000 and the gross profit markup is 25%, what is the amount for gross profit? $20,000 $25,000 $120,000 $125,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

If sales is $100,000 and the gross profit markup is 25%, what is the amount for gross profit?

$20,000
$25,000
$120,000
$125,000

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