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At year-end, Grouper, Inc. had Sales Revenue was $1351000. Its Cost of Goods Sold was 45% of Sales Revenue. Operating expenses for the year included
At year-end, Grouper, Inc. had Sales Revenue was $1351000. Its Cost of Goods Sold was 45% of Sales Revenue. Operating expenses for the year included $350400 of Selling Expense and $143600 of General and Administrative Expenses. Grouper, Inc. also had balances in Work-In- Process Inventory of $56600, Finished Goods Inventory of $68500, and Prepaid Expenses of $14900 at year-end. What was the gross margin for Grouper, Inc. at year-end? O $743037 O $857000 O $743050 $249050
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