Problema company has net sales of 1842000 sales commissions, Ask an Expert

Accounting

Problem:

A company has net sales of $1,842,000, sales commissions of $195,000, net income of $367,400, and the gross profit ratio of 65%.

Required:

Question: What is the amount of cost of goods sold?

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164599

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