Multiple Choice
A retail store prices its goods to achieve a gross margin of 30 percent.Up to the date of a fire that destroyed the store's inventory,sales were $400,000 and cost of goods available for sale was $300,000.The estimated cost of the inventory destroyed is
A) $20,000.
B) $70,000.
C) $120,000.
D) $100,000.
Correct Answer:
Verified
Correct Answer:
Verified
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