acc362 presented below is financial information for two different companies 491781
Presented below is financial information for two different companies.
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acc362 presented below is financial information for two different companies 491781
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|
Lee Company |
Lee Company |
|
|
Sales |
90,000 |
(d) |
|
Sales return |
(a) |
5,000 |
|
Net sales |
81,000 |
95,000 |
|
Cost of goods sold |
56,000 |
(e) |
|
Gross profit |
(b) |
41,500 |
|
Operating |
15,000 |
(f) |
|
Net income |
(c ) |
15,000 |
*(a) Determine the missing amounts.
*(b) Determine the gross profit rates. (Round answer to 1 decimal place, e.g. 25.2%.)
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