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
A: $64,000
B: $60,000
C: $20,000
D: $18,000
举一反三
- 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?
- 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.
- R company sold old equipment for $25 000. The equipment had a cost of $50 000 and accumulated depreciation of $30 000. The entry to record the sale of the equipment would include a ( ). A: loss on disposal of $25 000 B: gain on disposal of $25 000 C: loss on disposal of $5 000 D: gain on disposal of $5 000
- If a firm had sales of 60,000 during a period and sales returns and allowances of 3,000, its net sales were: A: 63,000 B: 60,000 C: 57,000 D: 3,000
- Which of the following changed year over year? A: sales volume B: sales cost C: variable sales D: cost of goods sold