The following information applies to the income statement of XYZ Company:

Gross sales $1,000,000

Net sales900,000

Freight-in10,000

Ending inventory200,000

Gross profit margin40%

XYZ’s cost of goods available for sale is

A. $550,000

B. $560,000

C. $740,000

D. $800,000

Question added by Deleted user
Date Posted: 2015/02/22

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by Muhammad Aamir Jahangir , Manager Accounts , AMCORP Engineering and Construction (Pvt) Ltd.

Answer is D. $800,000 ........

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