Given the cost of goods sold is $45,000, and the gross profit is 25%, then sales would be: A. $56,250 B. $60,000 C. $33,750 D. None of these

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 $45,000, and the gross profit is 25%, then sales
would be:
A. $56,250
B. $60,000
C. $33,750
D. None of these
Transcribed Image Text:Given the cost of goods sold is $45,000, and the gross profit is 25%, then sales would be: A. $56,250 B. $60,000 C. $33,750 D. None of these
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