A Company Has Net Sales of $1,832,000,sales Commissions of $194,000,net

question 148

Multiple Choice

A company has net sales of $1,832,000,sales commissions of $194,000,net income of $366,400,and the gross profit ratio of 60%.What is the amount of cost of goods sold?

• A)$ 538,800
• B)$ 732,800
• C)$ 655,200
• D)$ 879,360
• E)$1,099,200

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Definitions:

Malignant Melanoma

A serious form of skin cancer that arises from pigment-containing cells known as melanocytes.

Skin Cancer

A type of cancer arising in the skin cells, characterized by uncontrolled cell growth in the skin’s tissues.

Basal Cell Carcinoma

A type of skin cancer originating in the basal cells, characterized by its slow growth and high likelihood of treatment if diagnosed early.

Viral Skin Infection

A viral skin infection is a condition caused by viruses affecting the skin, leading to symptoms like rashes, blisters, and itching, examples include herpes and warts.