A Company Has $8,200 in Net Sales,$1,100 in Gross Profit,$2,500

question 17

Multiple Choice

A company has $8,200 in net sales,$1,100 in gross profit,$2,500 in ending inventory and $2,000 in beginning inventory.The company's cost of goods sold is:

• A)$7,100.
• B)$6,200.
• C)$5,700.
• D)$5,600.

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Definitions:

Interest Rate

The portion of a loan assessed as interest to the borrower, typically described as an annual rate of the loan's remaining balance.

Payment

The transfer of money, goods, or services in exchange for a product, service, or to fulfill an obligation.

Annual Interest Rate

The percentage of a sum of money charged for its use per year.

Double

To increase or become twice as much in size, amount, or number.