Company X reported profit of $15,000 and a profit margin of 6%. Its gross profit margin was 25%. Cost of goods sold was: $60,000 O $62.500 O $187,500 $48,000 A company has net sales of $70,000, cost of goods sold of $35,000, and operating expenses of $30,000. Based on this information, the company's profit margin is: O 7.1% O 50.00% 14.396 42.8% In a perpetual system, if the accounting records show an ending inventory balance of $72,000 and a physical count shows a balance of $66,000, it is necessary to Odebit Cost of Goods Sold and credit Merchandise Inventory for $6,000. O debit Sales Discounts and credit Merchandise Inventory for $6,000 Odebit Merchandise Inventory and credit Cost of Goods Sold for $6,000. O debit Cost of Goods Sold and credit Sales Discounts for $6,000