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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An organization has experienced the following revenues and expenses for the year: Sales Selling and administrative expenses Interest expense $2,358,000 $115,890 $12,650 Cost of goods sold $1,149,320 What is the gross margin? a. $1,092,790 b. $1,208,680 c. $1,080,140 d. $378,049
Transcribed Image Text:An organization has experienced the following revenues and expenses for the year: Sales Selling and administrative expenses Interest expense $2,358,000 $115,890 $12,650 Cost of goods sold $1,149,320 What is the gross margin? a. $1,092,790 b. $1,208,680 c. $1,080,140 d. $378,049
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