Top Flight Air Modulators sold $$1$ million of advanced radar equipment for commercial airlines last quarter at a $25$ percent markup over production costs. Depreciation expense on the fixed assets over the same period was $$150,000,$ interest expense on the firm$$s debt was $$55,000,$ and taxes were $$25,000.$ What was the firm$$s cost of goods sold?

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To find the cost of goods sold COGS we need to calculate the production ... View the full answer