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Nova Tech Inc. reported the following financial information: Total Sales Revenue: $620,000 ⚫ Gross Profit: $250,000 What is the Cost of Goods Sold (COGS)? A) $350,000 B) $370,000 C) $380,000 D) $390,000

Nova Tech Inc. reported the following financial information: Total Sales Revenue: $620,000 ⚫ Gross Profit: $250,000 What is the Cost of Goods Sold (COGS)? A) $350,000 B) $370,000 C) $380,000 D) $390,000

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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Nova Tech Inc. reported the following financial information: Total Sales Revenue: $620,000 ⚫ Gross Profit: $250,000 What is the Cost of Goods Sold (COGS)? A) $350,000 B) $370,000 C) $380,000 D) $390,000
Transcribed Image Text:Nova Tech Inc. reported the following financial information: Total Sales Revenue: $620,000 ⚫ Gross Profit: $250,000 What is the Cost of Goods Sold (COGS)? A) $350,000 B) $370,000 C) $380,000 D) $390,000
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