Question

Patrick's Pool Supplies had annual sales of $634,780. If the cost of goods sold was $306,600, what is the gross annual profit?$941,380$328,180$368,380$428,180None of these choices are correct.

Answer 1

Patrick's Pool Supplies had annual sales of $634,780.

The cost of goods sold was $306,600

Therefore;

`\text{Profit}=\text{Sales}-\text{Cost}`

Thus;

`\text{Profit}=634,780-306,600=\text{ \$328,180}`

Therefore, the profit is $328,180 Option B