What amount of the discount must be included in Francis' income, if - ProProfs Discuss
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What amount of the discount must be included in Francis' income, if the average gross profit percentage of the shop's goods is 20%?

Francis works for a local fly fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year Francis purchased one rod. The rod normally retails for $300, was purchased by the shop for $225, and sold to Francis for $250.

Asked by Aerazan, Last updated: Apr 17, 2024

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aerazan

aerazan

aerazan
Aerazan

Answered Nov 03, 2018

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