Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

The following information applies to the income statement of XYZ Company:

Gross sales $1,000,000

Net sales900,000

Freight-in10,000

Ending inventory200,000

Gross profit margin40%

XYZ’s cost of goods available for sale is

A. $550,000

B. $560,000

C. $740,000

D. $800,000

Accounting Auditing Banking
user-image
Question added by Deleted user
Date Posted: 2015/02/22
Upvote (0) Views (3) Followers (1) Answers (1) Report Question
Write an Answer
Register now or log in to answer.
Muhammad Aamir Jahangir
by Muhammad Aamir Jahangir , Manager Accounts , AMCORP Engineering and Construction (Pvt) Ltd.

Answer is D. $800,000 ........

Write Your Answer
More Questions Like This