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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

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.

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Question

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

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

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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.