Oman Garments sells garments for an average of OMR 12 and which cost OMR 9 This results in cost-to-retail percentage of 75%. Oman Garment beginning inventory has a cost of OMR 200,000, it paid OMR 125,000 for purchases during the month, and it had sales of OMR 340,000. Determine the amount of the cost of inventory sold of Oman Garments. a. OMR 280,000 b. OMR 275,000 c. OMR 265,000 d. OMR 255,000
Oman Garments sells garments for an average of OMR 12 and which cost OMR 9 This results in cost-to-retail percentage of 75%. Oman Garment beginning inventory has a cost of OMR 200,000, it paid OMR 125,000 for purchases during the month, and it had sales of OMR 340,000. Determine the amount of the cost of inventory sold of Oman Garments. a. OMR 280,000 b. OMR 275,000 c. OMR 265,000 d. OMR 255,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Oman Garments sells garments for an average of OMR 12 and which cost OMR 9 This results in cost-to-retail percentage of 75%. Oman Garment beginning inventory has a cost of OMR 200,000, it paid OMR 125,000 for purchases during the month, and it had sales of OMR 340,000. Determine the amount of the cost of inventory sold of Oman Garments.
a.
OMR 280,000
b.
OMR 275,000
c.
OMR 265,000
d.
OMR 255,000
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