A Company Has Net Sales of $1,832,000,sales Commissions in the Amount

question 52

Multiple Choice

A company has net sales of $1,832,000,sales commissions in the amount of $194,000,net income was $366,400,and the gross profit ratio is 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:

Chromosomes

Long strands of DNA wound around proteins, located in the cell nucleus, carrying genetic information.

Genotype

Genetic makeup of an individual.

Phenotype

Characteristic observed in an individual due to the expression of his or her genotype.

Progeria

Severe retardation of growth after the first year accompanied by a senile appearance and death at an early age.