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Blue Wave Electronics provided the following financial information for the year: ⚫ Total Sales Revenue: $920,000 • • Gross Profit: $410,000 Operating Expenses: $185,000 ⚫ Net Income Before Tax: $115,000 Calculate the Cost of Goods Sold (COGS) A) $500,000 B) $510,000 C) $505,000 D) $495,000

Blue Wave Electronics provided the following financial information for the year: ⚫ Total Sales Revenue: $920,000 • • Gross Profit: $410,000 Operating Expenses: $185,000 ⚫ Net Income Before Tax: $115,000 Calculate the Cost of Goods Sold (COGS) A) $500,000 B) $510,000 C) $505,000 D) $495,000

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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Blue Wave Electronics provided the following financial information for the year: ⚫ Total Sales Revenue: $920,000 • • Gross Profit: $410,000 Operating Expenses: $185,000 ⚫ Net Income Before Tax: $115,000 Calculate the Cost of Goods Sold (COGS) A) $500,000 B) $510,000 C) $505,000 D) $495,000
Transcribed Image Text:Blue Wave Electronics provided the following financial information for the year: ⚫ Total Sales Revenue: $920,000 • • Gross Profit: $410,000 Operating Expenses: $185,000 ⚫ Net Income Before Tax: $115,000 Calculate the Cost of Goods Sold (COGS) A) $500,000 B) $510,000 C) $505,000 D) $495,000
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