A business usually has a mark-up of 20% on cost of sales. During a year, its sales were $90000. What was cost of sales?
举一反三
- A business usually has a mark-up of 25% on cost of sales. During a year, its sales were $80,000. What was cost of sales? A: $64,000 B: $60,000 C: $20,000 D: $18,000
- Net sales is calculated by A: subtracting cost of sales from sales. B: subtracting sales returns and sales discounts from sales. C: subtracting sales returns, cost of sales, and sales discounts from sales. D: subtracting gross profit from sales.
- Which of the following changed year over year? A: sales volume B: sales cost C: variable sales D: cost of goods sold
- Gross profit is calculated as: A: Total sales - cost of sales - selling, general and administrative expenses - depreciation and amortization B: Total sales - cost of sales - selling, general and administrative expenses C: Total sales - cost of sales D: None of the above
- The gross profit percentage is calculated as: A: cost of goods sold divided by net sales revenue. B: net sales revenue minus gross profit on sales. C: net sales revenue minus cost of goods sold. D: gross profit divided by net sales revenue.