llowing data relates to Campus Goods Inc: Amount in $ Revenue 400000 Operating Profit 20% cost of good sold 55% Operating Expense ( as % of revenue ) 25% Required: Based on the above data determine the following: 8A. Cost of Goods Sold in $ is ___________.

llowing data relates to Campus Goods Inc: Amount in $ Revenue 400000 Operating Profit 20% cost of good sold 55% Operating Expense ( as % of revenue ) 25% Required: Based on the above data determine the following: 8A. Cost of Goods Sold in $ is ___________.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

The following data relates to Campus Goods Inc:

Amount in $

Revenue 400000

Operating Profit 20%

cost of good sold 55%

Operating Expense ( as % of revenue ) 25%

Required: Based on the above data determine the following:

8A. Cost of Goods Sold in $ is ___________.

250,000

100,000

150,000

220,000

8B. Gross Profit in $ and % is ___________ and ___________ respectively.

250,000 and 20%

180,0000 and 40%

180,000 and 45%

220,000 and 45%

8C. Operating expenses is ___________.

100,000

150,000

200,000

120,000

8D. Operating profit in $ is ___________.

55,000

65,000

80,000

70,000

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