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Mumz [18]
3 years ago
12

A retail operation has an average gross margin of 35%. If the average monthly sales for the store is $200,000.00, what is the co

st of goods sold?
Business
1 answer:
GarryVolchara [31]3 years ago
8 0

Answer:

COGS= $130,000

Explanation:

Giving the following information:

A retail operation has an average gross margin of 35%.

Sales= $200,000.00

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

Gross margin= sales - COGS

COGS= sales - gross margin

COGS= 200,000 - (200,000*0.35)

COGS= $130,000

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