Question

A company has sales of $378,600 and its gross profit is $159,100. Its cost of goods sold equals:

Answer 1

Answer: $219500

Step-by-step explanation:

The formula for the calculation of gross profit is the difference between the sales and the cost of goods sold. In this scenario, therefore, the cost of goods sold will be:

= Sales - Gross profit

= $378600 - $159100

= $219500

The cost of goods sold is $219500