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For the year, Orion Industries reports a gross profit of $400,000, sales of $600,000, and an ending inventory of $125,000. If net purchases are $150,000, then what are the COGS? a. $175,000 b. $200,000 c. $250,000 d. $275,000

For the year, Orion Industries reports a gross profit of $400,000, sales of $600,000, and an ending inventory of $125,000. If net purchases are $150,000, then what are the COGS? a. $175,000 b. $200,000 c. $250,000 d. $275,000

Intermediate Accounting: Reporting And Analysis
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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What are the cogs on these financial accounting question?

For the year, Orion Industries reports a gross profit of $400,000, sales of $600,000, and an ending inventory of $125,000. If net purchases are $150,000, then what are the COGS? a. $175,000 b. $200,000 c. $250,000 d. $275,000
Transcribed Image Text:For the year, Orion Industries reports a gross profit of $400,000, sales of $600,000, and an ending inventory of $125,000. If net purchases are $150,000, then what are the COGS? a. $175,000 b. $200,000 c. $250,000 d. $275,000
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