(Answered) Question - the following data are for upholstery limited

Accounting

Question - The following data are for Upholstery Limited for January 2014:

Beginning inventory $25,000

Net sales revenue 85,000

Net purchases 35,000

Normal gross margin rate 30%

What is the company's estimated cost of goods sold for the month?

A. $59,500

B. $25,500

C. $42,000

D. $15,000

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