Answered: Walmart takes its net sales and…

Walmart takes its net sales and subtracts the cost of goods sold during the previous period. The result is Walmart's _________.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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Question

Walmart takes its net sales and subtracts the cost of goods sold during the previous period. The result is Walmart's _________.

a.Gross profit

b. Gross sales

c. Net margin

d. Net income

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