Newark Company Has Provided the Following Information

question 120

Multiple Choice

Newark Company has provided the following information:
Cash sales,$450,000
Credit sales,$1,350,000
Selling and administrative expenses,$330,000
Sales returns and allowances,$90,000
Depreciation expense,$101,000
Gross profit,$1,360,000
Increase in accounts receivable,$55,000
Bad debt expense,$33,000
Sales discounts,$43,000
How much is Newark's cost of goods sold?

• A)$307,000
• B)$252,000
• C)$440,000
• D)$340,000