Question

Cushman company, inc. had $812,000 in net sales, $355,250 in gross profit, and $203,000 in operating expenses. cost of goods sold equals:

Answer 1

To solve for the cost of goods sold (COGS):
COGS = Net sales - gross profit
COGS = $812,000 - $355,000
COGS = $457,000

The cost of doors sold is the costs that are used for production of the goods the company sells. It includes materials used for creating the product and labor.