Homework Answers
Answer: $147.03
Explanation:
Sales = 100%
Sales - Cost of goods sold = Gross margin
100% - COGS = 26%
COGS = 74%
Selling price of the product = ($108.80 x 100%) ÷ 74%
=$147.03
Thus, The option iii) is correct and remaining given options are incorrect.
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