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Business, 30.03.2020 20:32 ginger1234

On November 1, 2017, Lotz Company sold merchandise for $16,000, FOB destination, with payment terms of 2/10, n/40. Customer returns on this sale amounted to $4,000. The company received payment for the balance on November 10, 2017. The cost of goods sold was $3,600. Calculate the amount of gross profit from these transactions.

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On November 1, 2017, Lotz Company sold merchandise for $16,000, FOB destination, with payment terms...
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