A company reported a gross profit percentage of 25% with net sales of $347,800. What is...

Question

Question

A company reported a gross profit percentage of 25% with net sales of $347,800. What is the amount of cost of goods sold? Mul

business accounting

Answer 1

Answer #1

Answer- The amount of cost of goods sold is =$260850.

Explanation- Cost of goods sold =Sales-Gross profit

= $347800-($347800*25%)

= $347800-$86950

= $260850

Answer 2

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