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Question
A firm has sales of $685,000 and cost of goods sold of $435,000. The firm expects sales to increase by 6 percent next year. What is the gross profit amount expected to be next year if the firm uses the percentage of sales approach when compiling pro forma statements?A. $235,100
B. $265,000
C. $335,000
D. $355,100
E. $536,100
Answer
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Related questions
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