ch 4&5 test 2024 0:58:55 remaining page 1: question 1 (mandatory) (2 points) listen a company had sales of…

ch 4&5 test 2024 0:58:55 remaining page 1: question 1 (mandatory) (2 points) listen a company had sales of $695,000 and its cost of goods sold of $278,000. its gross margin equals: $(417,000). $695,000. $278,000. $417,000. $973,000 question 2 (mandatory) (2 points) listen the operating cycle of a merchandising company

ch 4&5 test 2024 0:58:55 remaining page 1: question 1 (mandatory) (2 points) listen a company had sales of $695,000 and its cost of goods sold of $278,000. its gross margin equals: $(417,000). $695,000. $278,000. $417,000. $973,000 question 2 (mandatory) (2 points) listen the operating cycle of a merchandising company

Answer

Explanation:

Step1: Recall gross - margin formula

Gross margin = Sales - Cost of goods sold

Step2: Substitute given values

Sales = $695000$, Cost of goods sold = $278000$. So, Gross margin = $695000 - 278000$

Step3: Calculate the result

$695000-278000 = 417000$

Answer:

$417000$