Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The gross margin amount in 2017 for the Billings Corporation totaled $800,000. If cost of goods sold is 80% of sales, how much is sales?

The gross margin amount in 2017 for the Billings Corporation totaled $800,000. If cost of goods sold is 80% of sales, how much is sales?

Group of answer choices

$960,000

$4,000,000

$3,200,000

$1,440,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analytical Corporate Valuation Fundamental Analysis, Asset Pricing, And Company Valuation

Authors: Pasquale De Luca

1st Edition

331993550X, 9783319935508

More Books

Students also viewed these Accounting questions