Beginning finished goods, 1/1/2015 $92,000, Ending finished goods, 12/31/2015 75,000, Cost of...

Question:

Beginning finished goods, 1/1/2015 $92,000

Ending finished goods, 12/31/2015 75,000

Cost of goods sold 300,000

Sales revenue 450,000

Operating expenses 95,000

What is the gross margin for 2015?

(a) $163,000

(b) $177,000

(c) $170,000

(d) $167,000

Gross Margin

Gross margin or gross profit the amount calculated when cost of goods sold are deducted from sales revenue. This amount is used to defray expense

Answer and Explanation:

Gross margin is $150,000. None of the choices


Sales Revenue 450,000
Cost of goods sold 300,000
Gross margin 150,000

Learn more about this topic:

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How to Calculate Gross Profit Margin: Definition & Formula

from Financial Accounting: Help and Review

Chapter 5 / Lesson 17
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