Given the following information, calculate X Companys Cost of Goods Sold and Gross Margin. Revenue: $2,400 SG&A: 900 Taxes: 50 Gross Profit: $800

A) Cost of Goods Sold= $1,600, Gross Margin = 33% B) Cost of Goods Sold= $1,450, Gross Margin=60% C) Cost of Goods Sold= $1,500, Gross Margin = 63% D) Cost of Goods Sold= $1,600, Gross Margin=25% E) Cost of Goods Sold= $1500, Gross Margin = 40%