Erin international, a merchandising company, reported the following results for July. Cost of Goods Sold 285,141 Fixed selling and administrative expense 49,989 Sales Revenue 518,234 Variable selling and administrative expense 87,514 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the gross margin for July. Cost of goods sold is a variable cost in this company. Enter only the amount of the gross margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation.
Erin international, a merchandising company, reported the following results for July. Cost of Goods Sold 285,141 Fixed selling and administrative expense 49,989 Sales Revenue 518,234 Variable selling and administrative expense 87,514 This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the gross margin for July. Cost of goods sold is a variable cost in this company. Enter only the amount of the gross margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Erin international, a merchandising company, reported the following results for July.
Cost of Goods Sold 285,141
Fixed selling and administrative expense 49,989
Sales Revenue 518,234
Variable selling and administrative expense 87,514
This question is independent of all other questions. Please use only the information in this question to calculate the answer. Based on the information provided above, calculate the gross margin for July. Cost of goods sold is a variable cost in this company. Enter only the amount of the gross margin in the box provided below. Enter the amount only. Do not enter letters, words, or the calculation.
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