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 $200,000 and cost of goods available for sale was $150,000. The estimated cost of the inventory destroyed is
A) $10,000.
B) $35,000.
C) $60,000.
D) $50,000.
Correct Answer:
Verified
Correct Answer:
Verified
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