
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:An organization has experienced the following
revenues and expenses for the year:
Sales
Selling and administrative
expenses
Interest expense
$2,358,000
$115,890
$12,650
Cost of goods sold
$1,149,320
What is the gross margin?
a. $1,092,790
b. $1,208,680
c. $1,080,140
d. $378,049
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