The following information is available for Velva Company for its most recent year: 
The gross margin is 40 percent of net sales. What is the cost of goods available for sale?
Definitions:
Thyroid Gland
An endocrine gland located in the neck that produces hormones regulating metabolism, body energy, and the body's use of other hormones and vitamins.
Palpate
To examine or explore with the hands, feeling for organs, masses, or other physical conditions.
Sipping Water
The act of drinking water in small mouthfuls, often recommended for health or well-being.
Alcohol Abuse
The excessive and harmful consumption of alcohol, leading to negative health and social consequences.
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