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Menswear Inc maintains a markup of 60% based on cost. The companys selling and admin expenses average 30 percent of sales. Annual sales were $1,440,000.
Menswear Inc maintains a markup of 60% based on cost. The companys selling and admin expenses average 30 percent of sales. Annual sales were $1,440,000. Menswears COGS and operating profit for the year are COGS Operating Profit A 864,000 144,000 B 864,000 432,000 C 900,000 108,000 D 900,000 432,000 Please explain why each one is incorrect and why the correct one is right
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Accounting Information Systems
Authors: George H Bodnar, William S Hopwood
10th Edition
013609712X, 978-0136097129
