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Accounting

Place the letter corresponding to your answer on the answer sheet provided Answer questions 1-3 using the information below:

Beginning finished goods, 1/1/2013 $40,000

Ending finished goods, 12/31/2013 80,000

Cost of goods sold 270,000

Sales revenue 553,000

Operating expenses 171,000

1. What is cost of goods manufactured for 2013?

A. $310,000

B. $297,000

C. $283,000

D. $230,000

E. None of the above

2. What is gross margin for 2013?

A. $287,000

B. $355,000

C. $230,000

D. $283,000

E. None of the above

3. What is operating income for 2013?

A. $230,000

B. $112,000

C. $62,000

D. $85,000

E. None of the abov

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9955519

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