ig 2)XG gross margin Googlex raystateinstructure.com/cours 1325107/quizzes/18345

Question

ig 2)XG gross margin Googlex raystateinstructure.com/cours 1325107/quizzes/1834578/take Google Drive Blackboard PeopleSoft Email MyGate ndiv. Submission u pts max team submssion 85 pts max Correct answers will be visible 1 min after due date until the following day 11PM D Question 1 5 pts Jane Doe's Travel is a retail store for those customers who prefer travelling with high quality luggage and travel accessories. Last year its net sales totaled $120.500. The cost value of the items sold was $72.300. Taxes for the year were $7.680. The only expenses that the operation had were (1) rent for $200.(2) salaries to the owner and one part-time assistant for $22,000, (3) administrative expenses of $200, and (4) utilities at $1,300 PART 1: calculate the gross margin $48,200 $24,100 . $22.000 $120.500 $7.680 Ouestion 2

Explanation / Answer

Calculation of gross margin Particulars $ Net sales 120500 Less: Cost of goods sold 72300 Gross Margin 48200 Therefore, the right anser is Option (a) $ 48200

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