Question: Based on the following data, what is the gross profit for the company? Sales ......................................................... $1,000,000 Net purchases of raw materials ........................... 600,000 Cost of

Based on the following data, what is the gross profit for the company?
Sales ......................................................... $1,000,000
Net purchases of raw materials ........................... 600,000
Cost of goods manufactured .............................. 800,000
Marketing and administrative expenses ................. 250,000
Indirect manufacturing costs ............................. 500,000

a. $400,000
b. $900,000
c. $200,000
d. $600,000

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