In October, Haldeman Corporation, a manufacturing company, reported the following financial data: The company had no beginning or ending inventories.
-The gross margin for October was:
A) $282,000
B) $183,000
C) $264,000
D) $5,000

Question

In October, Haldeman Corporation, a manufacturing company, reported the following financial data:  The company had no beginning or ending inventories.
-The gross margin for October was:
A) $282,000 
B) $183,000 
C) $264,000 
D) $5,000

Quizplus · Accepted Answer

Gross Margin = Sales Revenue - Cost of Goods Sold 
Sales Revenue = $546,000 
Cost of Goods Sold = $282,000 + $0 = $282,000 
Gross Margin = $546,000 - $282,000 = $264,000

In October, Haldeman Corporation, a Manufacturing Company, Reported the Following