The following information is available for Kobold Company for 2010: 
The cost of goods sold is equal to 400% of selling expenses.What is the cost of goods available for sale?
Definitions:
Set Notation
A standardized method of describing or defining a set by clearly specifying its elements or the properties that its members must satisfy.
Absolute Value Inequality
An inequality that involves the absolute value of a variable expression and defines a range of solutions.
Solution
A quantity or array of quantities that solve an equation, inequality, or simultaneous equations.
Absolute Value
The distance of a number from zero on the number line, without considering direction; always a non-negative number.
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