Given the Following Data, What Is the Gross Margin If

question 62

Multiple Choice

Given the following data, what is the gross margin if cost of goods sold is determined using the FIFO periodic method? $\begin{array} { | l | l | } \hline \text { Sales revenue } & 200 \text { units at } \$ 20 \text { per unit } \\\hline \text { Beginning inventory } & 60 \text { units at } \$ 12 \text { per unit } \\\hline \text { Purchases } & 210 \text { units at } \$ 13 \text { per unit } \\\hline\end{array}$

• A)$2,540
• B)$1,460
• C)$1,400
• D)$1,390

---

Definitions:

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typified as product, price, place, and promotion.

Higher Horsepower

Refers to engines or machines with a higher capability to produce power, often resulting in better performance or efficiency.

Self-Propelled

Referring to machinery or vehicles that move by its own power mechanism without external force.

Sales Promotions

Marketing strategies aimed at increasing sales and attracting customers in the short term through discounts, offers, or special events.