Question: Please help me solve this general accounting question using the right accounting principles. High-Quality Jewelers uses the perpetual inventory system. On March 3, it sold

Please help me solve this general accounting question using the right accounting principles.

High-Quality Jewelers uses the perpetual inventory system. On March 3, it sold merchandise for $95,000 on account with terms 4/15, n/30. The cost of goods sold (COGS) was $38,000. On March 18, payment was received. What is the amount of gross profit? a) $38,000 b) $57,000 c) $53,200 d) $91,200

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