Flagg Industries reported the following data for the year just ended: sales reve

Question

Flagg Industries reported the following data for the year just ended: sales revenue, $800,000; cost of goods manufactured, $700,000; cost of goods sold, $600,000; and selling and administrative expenses, $100,000. Flagg's gross margin would be:?

a. $200,000. ?

b. $100,000.

c. $800,000.

d. $300,000.

Flagg Industries reported the following data for the year just ended: sales revenue, $800,000; cost of goods manufactured, $700,000; cost of goods sold, $600,000; and selling and administrative expenses, $100,000. Flagg's gross margin would be:? $200,000. ? $100,000. $800,000. $300,000.

Explanation / Answer

gross margin=sales revenue-Cost of goods sold

=800000-600000=$200000

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