Knitness Menswear, Inc maintains a markup of 60 percent based on cost. The company's selling and administrative expenses average 30 percent of sales. Annual sales were $1,440,000 . Petersen's cost of goods sold and operating profit for the year are Cost of Operating Goods Sold Profit

a. $864,000 $144,000
b. $864,000 $432,000
c. $900,000 $108,000
d. $900,000 $432,000


C

Business

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