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Thomas & Cooke Inc. had a gross margin for the month of February totaling $46,200. They sold 5,500 units during the month at a sales price of $22 per unit. What was the amount of cost of goods sold for the month? a.$42,000 b.$74,800 c.$100,000 d.None of these choices are correct.

Respuesta :

Answer:

What was the amount of cost of goods sold for the month?

b.$74,800

Explanation:

Units Price  

Sold 5500 22  

   

revenue 121000  

   

Gross margin is a company's net sales revenue minus its cost of goods sold (COGS)    

   

Gross margin=Sales-Cost of goods    

   

46200=121000-cost Of goods    

   

Cost of goods=74800    

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