During 2020 Ficus Store had sales of $72,000; cash received of $70,000 of which $2,000 was classified as unearned revenue; cost of goods sold of $24,000; and cash paid for inventory of $18,000. What was Ficus's gross profit for the year?

Answer rating: 100% (QA)

sales 72000 cost of goods sold 24000 Gross prof... View the full answer