Question: Please explain the solution to this general accounting problem using the correct accounting principles. ABC Corporation has the following information for the month of April:

Please explain the solution to this general accounting problem using the correct accounting principles.

ABC Corporation has the following information for the month of April: Beginning Inventory: $50,000 Purchases: $120,000 Ending Inventory: $40,000 Sales: $200,000 Operating Expenses: $70,000 What is ABC Corporation's Gross Profit for the month of April

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