New hope, inc. is a merchandiser of stone ornaments. it sold 15,000 units during the year. the company has provided the following information: sales revenue $535,000purchases (excluding freight in) 347,000selling and administrative expenses 32,500freight in 15,200beginning merchandise inventory 43,000ending merchandise inventory 56,500how much is the gross profit for the year?

Gross profit=  $186,300

Explanation:

Giving the following information:

It sold 15,000 units during the year.

The company has provided the following information:

Sales Revenue $535,000

Purchases (excluding Freight In) 347,000

Selling and Administrative Expenses 32,500

Freight In 15,200

Beginning Merchandise Inventory 43,000

Ending Merchandise Inventory 56,500

Gross profit= sales - cost of goods sold

Cost of goods sold= beginning merchandise inventory + purchases - ending merchandise inventory

Cost of goods sold=43000 + (347000 + 15200) - 56500= $348,700

Gross profit= 535000 - 348700= $186,300

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answer; (cash) is the best out of the above; good luck