Multiple Choice
The net sales figure of XYZ Company in 2012 was $300,000. If the cost of goods available for sale was $280,000 and gross margin was 35 percent of net sales, ending inventory must have been
A) $70,000
B) $85,000
C) $195,000
D) $105,000
Correct Answer:
Verified
Correct Answer:
Verified
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