Table 5-1 -Referring to Table 5-1, What Is Gross Margin?
A)$145,000
B)$105,000

question 177

Multiple Choice

Table 5-1 $$\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 480,000 \\\hline \text { Cost of goods sold } & 300,000 \\\hline \text { Sales discounts } & 20,000 \\\hline \text { Sales retums and allowances } & 15,000 \\\hline \text { Operating expenses } & 85,000 \\\hline \text { Interest revenue } & 5,000 \\\hline\end{array}$$
-Referring to Table 5-1, what is gross margin?

• A)$145,000
• B)$105,000
• C)$140,000
• D)$90,000

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