Question

A company has sales of $375,000 and its net income is 54,250. its gross profit is $157,500. its cost of goods sold equals: a 7.6%, b 22.38%, c 34.00%, d 66%or e 294.10%

Answer 1

Answer:

$217,500

Explanation:

We know that the

Cost of goods sold = Sales revenue - gross profit

                                = $375,000 - $157,500

                                = $217,500

To compute the cost of goods sold we deduct the gross profit from the sales revenue so that the cost of goods sold can come.

And, the net income would be ignored

This is the answer but the same is not provided in the given options