Cushman Company had $814,000 in net sales, $356,125 in gross profit, and $203,500 in operating expenses....

Question

Question

Cushman Company had $814,000 in net sales, $356,125 in gross profit, and $203,500 in operating expenses. Cost of goods sold equals:

Answer 1

Answer #1

Answer---------$ 457,875

Gross profit= Sales minus Cost of goods sold .

Using the same formula and interchanging the places of Cost of goods sold and gross profit we can find out value of cost of goods sold as follows.

Cost of goods sold = Sales- Gross profit

Answer 2

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