An organization has experienced the following revenues and expenses for the year: Sales $2,358,000 Selling and administrative expenses $115,890 Interest expense $12,650 $1,149,320 Cost of goods sold What is the gross margin? a. $1,092,790 b. $1,208,680 c. $1,080,140 d. $378,049

An organization has experienced the following revenues and expenses for the year: Sales $2,358,000 Selling and administrative expenses $115,890 Interest expense $12,650 $1,149,320 Cost of goods sold What is the gross margin? a. $1,092,790 b. $1,208,680 c. $1,080,140 d. $378,049

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

Give correct gross margin

An organization has experienced the following revenues and expenses
for the year:
Sales
$2,358,000
Selling and administrative expenses $115,890
Interest expense
$12,650
$1,149,320
Cost of goods sold
What is the gross margin?
a. $1,092,790
b. $1,208,680
c. $1,080,140
d. $378,049

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