# Question

Using the information in SE5-2A, calculate the gross profit from the sale and the gross profit ratio. Assume that the customer does not pay within the discount period.

In SE5-2A, In February, Brenda Bailey’s sold $500,000 of merchandise on account with terms 2/10, n/30. The cost of the merchandise sold was $230,000.

In SE5-2A, In February, Brenda Bailey’s sold $500,000 of merchandise on account with terms 2/10, n/30. The cost of the merchandise sold was $230,000.

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