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Sandhill Company's financial information is presented below. Purchase returns and allowances $15680 Purchases $269500 Sales returns and allowances 10780 Ending inventory 31360 Net sales 470400 Cost of goods sold 284200 How much is gross profit

Sagot :

abiolataiwo2015

Based on the information given the gross profit is $186,200.

Gross profit

Using this formula

Gross profit=Net sales– Cost of Goods Sold


Where:

Net sales=470400

Cost of Goods Sold=284200

Let plug in the formula

Gross profit=470400-284200

Gross profit=186,200

Inconclusion  the gross profit is $186,200.

Learn more about gross profit here:https://brainly.com/question/942181

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