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A company reported revenues of $ 380 000 cost of goods sold of $ 126 000 ?selling expenses of $ 12 000 ?and total operating costs of $ 79 000 Gross margin for the year is? ________
A company reported revenues of $ 380 000
cost of goods sold of $ 126 000
?selling expenses of $ 12 000
?and total operating costs of $ 79 000
Gross margin for the year is? ________.
Expert Solution
Computation of Gross Margin of the Year:
Gross Margin = Revenues - Cost of Goods Sold
= $380,000 - $126,000
Gross Margin = $254,000
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