Answer the questions below based on the following data (in 000's): $\begin{array} { l }
\text { Purchases}&\$160\
\text { Beginning inventory}&32\
\text {Ending inventory }&48\
\end{array}$
(a) What amount of sales would produce a gross margin of 35 percent based on cost of goods sold? $______________________________.
(b) What amount of sales would produce a gross margin of 40 percent based on sales? $______________________________.

Question

Answer the questions below based on the following data (in 000's): $\begin{array} { l  }
 \text { Purchases}&\$160\
 \text { Beginning inventory}&32\
 \text {Ending inventory }&48\
\end{array}$
 (a) What amount of sales would produce a gross margin of 35 percent based on cost of goods sold? $______________________________.
(b) What amount of sales would produce a gross margin of 40 percent based on sales? $______________________________.

Quizplus · Accepted Answer

The Answer of Answer the questions below based on the following data (in 000's): $\begin{array} { l  }
 \text { Purchases}&\$160\
 \text { Beginning inventory}&32\
 \text {Ending inventory }&48\
\end{array}$
 (a) What amount of sales would produce a gross margin of 35 percent based on cost of goods sold? $______________________________.
(b) What amount of sales would produce a gross margin of 40 percent based on sales? $______________________________.

Answer the Questions Below Based on the Following Data (In Purchases$160 Beginning inventory32Ending inventory 48\begin{array} { l } \text { Purchases}&\$160\\ \text { Beginning inventory}&32\\ \text {Ending inventory }&48\\\end{array} Purchases Beginning inventoryEnding inventory ​$1603248​

Answer the Questions Below Based on the Following Data (In $\begin{array} { l } \text { Purchases}&\$160\\ \text { Beginning inventory}&32\\ \text {Ending inventory }&48\\\end{array}$