Question

cushman company had $800,000 in net sales, $530,000 in gross profit, and $200,000 in operating expenses. cost of goods sold equals:

Answer 1

If cushman company had $800,000 in net sales, $530,000 in gross profit, and $200,000 in operating expenses. cost of goods sold equals: $450,000.

How to determine the cost of goods sold?

Using this formula to find the cost of goods sold

Cost of Goods Sold = Net Sales − Gross Profit

Where:

Net sales = $800,000

Gross profit = $350,000

Let plug in the formula

Cost of Goods Sold = $800,000 − $350,000

Cost of Goods Sold = $450,000

Therefore the cost of goods sold is the amount of $450,000.

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