A company has sales of $400,200 and its gross profit is $168,700. Its cost of goods sold equals:
A. $400,200.
B. $168,700.
C. $229,700.
D. $568,900.
E. $231,500.
Answer: E
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Investment Sales Corporation wants to monitor its employees' electronic communications. Investment Sales's best course of action to avoid liability under laws related to employee monitoring is to notify
A) no one. B) its employees. C) its clients. D) the public generally.
A company has $90,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 4% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is an $800 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
A. $3,568 B. $4,400 C. $3,600 D. $3,632 E. $2,800
Damages that compensate the nonbreaching party for the loss of a bargain are known as consequential damages
Indicate whether the statement is true or false
In the simple EOQ model, annual inventory carrying costs and annual ordering costs vary:
A) in an unknown manner. B) according to the time of year. C) with seasonally adjusted demand. D) with the order quantity. E) They do not vary in any way.