The following information is available for XYZ Company for the current year: [net sales $1,800, freight-in $45,

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The following information is available for XYZ Company for the current year: [net sales $1,800, freight-in $45, purchase discount $25, ending inventory $240]
The gross margin is 30% of net sales. What is the cost of goods available for sale?

A. $840
B. $1,380
C. $960
D. $1,220
E. none of the above.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Posted Date: May 20, 2022 08:36 AM

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The following information is available for XYZ Company for the current year: [net sales $1,800, freight-in $45,

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Intermediate Accounting

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