The Quarterly Operating Statement for a Firm Gives the Following

Multiple Choice

The quarterly operating statement for a firm gives the following information: Number of pieces manufactured: 100
Number of pieces sold: 100
Total cost of goods sold: $800
Average cost of single piece: $5
Net sales: $1,000
It can be inferred that the firm's gross margin is _____.

A) $92
B) $2
C) $1800
D) $200
E) $1818