Flip or Flop is a retail shop selling a wide variety of sandals and beach footwear. In
Question:
Flip or Flop is a retail shop selling a wide variety of sandals and beach footwear. In 2019, they had gross revenue from sales totaling $93,200. Their operating expenses for this same period were $34,000. If their Cost of Goods Sold (COGS) was 21% of gross revenue, what was their net operating income for the year?
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To calculate the net operating income NOI for Flip or Flop we need to deduct the operating expenses ...View the full answer
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Related Book For 
Principles Of Accounting Volume 2 Managerial Accounting
ISBN: 9780357364802
1st Edition
Authors: OpenStax
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