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17 February, 09:33

Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amount of Cost of Goods Sold did the company report?

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  1. 17 February, 10:05
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    COGS = $67,200

    Explanation:

    Giving the following information:

    Your campus computer store reported:

    Sales Revenue of $168,000.

    The company's gross profit percentage was 60%.

    Gross profit = sales revenue - cost of goods sold

    sales = 168,000

    COGS=?

    gross profit = 168,000*0.6 = 100,800

    COGS = 168,000 - 100,800 = $67,200
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