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Given the cost of goods sold is $40,000, and the gross profit is 25%, then sales would be: A. $50,000 B. $53,333 C. $30,000 D. None of these

Given the cost of goods sold is $40,000, and the gross profit is 25%, then sales would be: A. $50,000 B. $53,333 C. $30,000 D. None of these

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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Given the cost of goods sold is $40,000, and the gross profit is 25%, then sales would be: A. $50,000 B. $53,333 C. $30,000 D. None of these
Transcribed Image Text:Given the cost of goods sold is $40,000, and the gross profit is 25%, then sales would be: A. $50,000 B. $53,333 C. $30,000 D. None of these
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