Please provide correct solution and accounting question XYZ Corporation reported total sales revenue of $1,200,000 and cost of goodssold (COGS) of $720,000 for the year. What is the company's gross margin?A) $380,000B) $480,000C) $520,000D) $420,000

Step 1: Definition of Gross MarginGross Margin (also called Gross Profit) is the difference between…

Answered: XYZ Corporation reported total sales…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...

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XYZ Corporation reported total sales revenue of $1,200,000 and cost of goods sold (COGS) of $720,000 for the year. What is the company's gross margin? A) $380,000 B) $480,000 C) $520,000 D) $420,000