Question
The following information was obtained from Pep Pepsis Sales $350,000, Beg. Inv. $40,000, purchases. $90,000. Pep Pepsis gross margin is 20%. What amount represents Pep
The following information was obtained from Pep Pepsis Sales $350,000, Beg. Inv. $40,000, purchases. $90,000. Pep Pepsis gross margin is 20%. What amount represents Pep Pepsis cost of goods sold?
Cost of good sold would be 350,000*80%=280,000
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
17th Edition
1119613698, 978-1119613695
