Assume a company provided the following information:

Gross margin percentage $40\%$

Inventory balance, beginning of the year $ $10,000$

Inventory balance, end of the year $ $20,000$

Average sale period $18\mathrm{.}25$ days

The cost of goods sold is closest to:

Multiple Choice

$200,000.$

$400,000.$

$300,000.$

$500,000.$

Incorrect