Which item(s) are NOT accurately reflected in the calculation of gross profit? Select all that apply

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Which item(s) are NOT accurately reflected in the calculation of gross profit? Select all that apply. Income statement

A Net sales

B – Cost of goods sold

C – Gain on sale

D – Interest income

E-Salary expense

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admin 9 months 2023-03-01T09:22:07+00:00 1 Answer 4 views Teacher 0

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    2023-03-01T09:22:18+00:00

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    The items that are NOT accurately reflected in the calculation of gross profit are:

    C – Gain on sale D – Interest income E – Salary expense

    The calculation of gross profit only includes the net sales and cost of goods sold. It does not include gains on sale, interest income, or salary expenses.

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