A company had a gross profit of $322,000 based on sales of $411,000. Its cost of...

Question

Question

A company had a gross profit of $322,000 based on sales of $411,000. Its cost of goods sold equals $733,000.

True or False

Answer 1

Answer #1

The correct answer is False

Note:

Sales - Cost of Goods Sold = Gross Profit

Sales - Gross Profit = Cost of Goods Sold

411000-322000= Cost of Goods Sold

Cost of Goods Sold = 89,000

Answer 2

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