Answer:
$459,000
Explanation:
Calculation to determine How much is Newark's cost of goods sold
First step is to calculate the Net sales
Net sales = $640,000 + $1,540,000 - $109,000 - $62,000.
Net sales =$2,009,000
Now let Calculate the cost of goods sold using this formula
Cost of goods sold=Net Sales -Gross profit,
Let plug in the formula
Cost of goods sold=$2,009,000-$1,550,000
Cost of goods sold= $459,000
Therefore the amount of Newark's cost of goods sold is $459,000
