Answered: A company reports the following…

A company reports the following financial data: • Revenue: $500,000 ⚫ Cost of Goods Sold (COGS): $320,000 What is the Gross Margin of the company? a. $180,000 b. $200,000 c. $220,000 d. $250,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

General accounting question

A company reports the following financial data:
•
Revenue: $500,000
⚫ Cost of Goods Sold (COGS): $320,000
What is the Gross Margin of the company?
a. $180,000
b. $200,000
c. $220,000
d. $250,000

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