FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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5. During 2021, Rogue Corporation reported net sales of $740,000. Inventory at both the beginning and end of the year totaled $80,000. The inventory turnover ratio for the year was 7.8.
What amount of gross profit did the company report in its 2021 income statement?
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