Multiple Choice
A retail store prices its goods to achieve a gross margin of 35 percent.Up to the date of a fire that destroyed the store's inventory,sales were $250,000 and cost of goods available for sale was $175,000.The estimated cost of the inventory destroyed is
A) $12,500.
B) $43,750.
C) $62,500.
D) $75,000.
Correct Answer:
Verified
Correct Answer:
Verified
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