Photoshop Files
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Files that Photoshop excepts can be in many formats: PSD, PICT, TIFF, PCX, BMP, JPEG, GIF, PNG.
The important difference for saving out as GIF, JPG, and PNG is to see what color mode the image is using. Image>Mode. Inorder to save something as a GIF it will need to be in Index Color Mode. To save as a JPG or PNG it will need to be in RGB mode.