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The Following Information Is Available for Velva Company for Its

Question 93

Multiple Choice

The following information is available for Velva Company for its most recent year: The following information is available for Velva Company for its most recent year: The gross margin is 40 percent of net sales. What is the cost of goods available for sale? A) $3,360,000 B) $3,840,000 C) $4,800,000 D) $4,880,000 The gross margin is 40 percent of net sales. What is the cost of goods available for sale?


A) $3,360,000
B) $3,840,000
C) $4,800,000
D) $4,880,000

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