Question: Using the following information for a periodic inventory system, what is the amount of gross profit? Line Item Description Amount Purchases $32,000 Inventory, September 1

Using the following information for a periodic inventory system, what is the amount of gross profit?

Line Item Description Amount
Purchases $32,000
Inventory, September 1 5,700
Administrative expense 910
Rent revenue 1,200
Selling expense $960
Inventory, September 30 6,370
Sales 63,000
Interest expense 1,040

a.$62,840

b.$25,300

c.$30,600

d.$31,670

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