Kindly help me with accounting questions ABC Inc. reported total sales revenue of $900,000 and cost of goods sold(COGS) of $550,000 for the year. What is the company's gross margin?A) $450,000B) $350,000C) $400,000D) $500,000

Step 1: Definition of Gross MarginGross margin represents the difference between total sales revenue…

Answered: ABC Inc. reported total sales revenue…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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ABC Inc. reported total sales revenue of $900,000 and cost of goods sold (COGS) of $550,000 for the year. What is the company's gross margin? A) $450,000 B) $350,000 C) $400,000 D) $500,000