AaBBC AaBbcc AaBbc AaBbccc Add 1 Normal 1 No Spac... Heading 1 Heading 2 Title Replace Select Dictate Sensitivity Paragraph Styles Editing Voice Sensitivity Principles of Accounting I BUSI 201-01 Fall 2020 Chapter 5 In-Class Assignment EX 5-1 Determining Gross Profit Obj. 1 During the current year, merchandise is sold for $8,100,000. The cost of the goods sold is $4,698,000 What is the amount of the gross profit? Compute the gross profit percentage (gross profit divided by sales). Will the income statement always report a operating income? Explain. EX 5-7 Purchase-Related Transactions Ohi 2 Stvlon Co a women's clothing store nurchased S48 000 of merchandise from a supplier Focus A RE hp brt sc delete home