Hi expart give correct answer the general accounting question Given cost of goods sold $16,000 and gross profitof 20%, then sales would be:A. $20,160B. $13,600C. $21,000D. $20,000

Step 1: Define Gross ProfitThe companies that consistently earn profits have typically high gross…

Answered: Given cost of goods sold $16,000 and…

Given cost of goods sold $16,000 and gross profit of 20%, then sales would be: A. $20,160 B. $13,600 C. $21,000 D. $20,000

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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Hi expart give correct answer the general accounting question

Given cost of goods sold $16,000 and gross profit
of 20%, then sales would be:
A. $20,160
B. $13,600
C. $21,000
D. $20,000

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