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The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,831 Total assets 4,431 End of year balance in cash 1,067 Total stockholders' equity 338 Gross profit (Sales − Cost of Sales) 2,654 Net increase in cash for the year 11 Operating expenses 2,064 Net operating cash flow 717 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year.   Multiple Choice   $8,767   $5,148   $7,212   $8,177

The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated: Net sales $ 10,831 Total assets 4,431 End of year balance in cash 1,067 Total stockholders' equity 338 Gross profit (Sales − Cost of Sales) 2,654 Net increase in cash for the year 11 Operating expenses 2,064 Net operating cash flow 717 Other income (expense), net (20) Compute Orinoco's cost of goods sold for the year.   Multiple Choice   $8,767   $5,148   $7,212   $8,177

Intermediate Accounting: Reporting And Analysis
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 10E
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The following information ($ in millions) comes from a recent annual report of Orinoco.com, Incorporated:

Net sales $ 10,831
Total assets 4,431
End of year balance in cash 1,067
Total stockholders' equity 338
Gross profit (Sales − Cost of Sales) 2,654
Net increase in cash for the year 11
Operating expenses 2,064
Net operating cash flow 717
Other income (expense), net (20)

Compute Orinoco's cost of goods sold for the year.

 

Multiple Choice
  •  

    $8,767

  •  

    $5,148

  •  

    $7,212

  •  

    $8,177

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