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Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60%. What amount of Cost of Goods Sold did the company report?

Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60%. What amount of Cost of Goods Sold did the company report?

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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Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60%. What amount of Cost of Goods Sold did the company report?
Transcribed Image Text:Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60%. What amount of Cost of Goods Sold did the company report?
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