question archive A company opens its business in 20X1 and purchases merchandise on account for $88,000
A company opens its business in 20X1 and purchases merchandise on account for $88,000
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A company opens its business in 20X1 and purchases merchandise on account for $88,000. In 20X2, the company pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. What is the company's gross profit for 20X2?
a. $57,000
b. $78,000
c. $81,000
d. $102,000
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