TRUE-FALSE STATEMENTS

c. about the same as for a service company. d. generally shorter than it is for a service company. 155. Cole Company has sales revenue of $39,000, cost of goods sold of $24,000 and operating expenses of $9,000 for the year ended December 31. Cole's gross profit is. a. $30,000. b. $15,000. c. $6,000. d. $0. 158. In a perpetual inventory system, a return of defective merchandise by a purchaser ... ................
................