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What is the cost of goods sold (COGS) for a firm with with a gross profit margin of 32 percent, a net profit margin of 4.5 percent, and earnings after taxes of $25,000? Cost of Goods Sold includes: a. Net Sales. b. Freight- in. C. Freight-out. d. Supplies Expense. Need Correct Answer With Explanation

What is the cost of goods sold (COGS) for a firm with with a gross profit margin of 32 percent, a net profit margin of 4.5 percent, and earnings after taxes of $25,000? Cost of Goods Sold includes: a. Net Sales. b. Freight- in. C. Freight-out. d. Supplies Expense. Need Correct Answer With Explanation

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What is the cost of goods sold (COGS) for a firm with with a gross profit margin of 32 percent, a net profit margin of 4.5 percent, and earnings after taxes of $25,000? Cost of Goods Sold includes: a. Net Sales. b. Freight- in. C. Freight-out. d. Supplies Expense. Need Correct Answer With Explanation
Transcribed Image Text:What is the cost of goods sold (COGS) for a firm with with a gross profit margin of 32 percent, a net profit margin of 4.5 percent, and earnings after taxes of $25,000? Cost of Goods Sold includes: a. Net Sales. b. Freight- in. C. Freight-out. d. Supplies Expense. Need Correct Answer With Explanation
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