Question: In 2008 Doolan Company sold 10 000 unitsof inventory at twice

In 2008, Doolan Company sold 10,000 unitsof inventory at twice their purchase price of $27.50 each. In 2009, Doolan had a gross profit of $200,000 and cost of goods sold of $225,000.
Required:
(a) What were Doolan’s sales in 2008?
(b) What was Doolan’s gross profit in 2008?
(c) What were Doolan’s sales in 2009?
(d) What was Doolan’s gross profit percentage in 2009?

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  • CreatedMarch 27, 2015
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