Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was £95,000; its gross margin was £22,000, and its sales were £150,000. The ending finished goods inventory was: a. £15,000 b. £2,000 c. £25,000 d. £4,500

Vera Ltd had beginning finished goods inventory of £35,000; its cost of goods manufactured was £95,000; its gross margin was £22,000, and its sales were £150,000. The ending finished goods inventory was: a. £15,000 b. £2,000 c. £25,000 d. £4,500

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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Question

a. £15,000

b. £2,000

c. £25,000

d. £4,500

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