Solved: The cost of goods sold was 38000 on march 18 high quality, Accounting Basics

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The cost of goods sold was 38000 on march 18 high quality

Question - High Quality Jewelers uses the perpetual inventory system. On March 3, High Quality sold merchandise for $95,000 to a customer on account with terms 4/15, n/30. The cost of goods sold was $ 38,000. On March 18, High Quality received payment from the customer. Calculate the amount of gross profit.

38,000

57,000

53,200

91,200

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Accounting Basics: The cost of goods sold was 38000 on march 18 high quality

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Accounting Basics: The cost of goods sold was 38000 on march 18 high quality

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