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ProofSmart Inc., a supplier of home insulation materials, was burned down in a recent fire. From the remains of what used to be the accounting
ProofSmart Inc., a supplier of home insulation materials, was burned down in a recent fire. From the remains of what used to be the accounting ledger, the following information was recovered:
2011 | 2012 | |
Inventory | $2,367,121 | $2,418,257 |
Gross Margin | 37% | 45% |
Inventory Turns | 8 | [unreadable] |
Prior to the fire, ProofSmart saw a sales growth of 8% in 2012, a record performance for the 18 year-old company.
What was the sales for 2012?
NOTE: Gross margin is defined as 1 - ( COGS / Sales ).
1). 32745384
2). 30213322
3). 57894582
4). 18936968
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