Haley Optics manufactures lens used in cameras, binoculars, and scientific equipment.It had sales of $300,000 during the last quarter.Its gross profit sold was $120,000.On an income statement, an accountant would classify the remaining $180,000 as:

Question

Quizplus · Accepted Answer

The remaining $180,000 is classified as the cost of goods sold (COGS), which represents the direct costs attributable to the production of the goods sold by a company.

Haley Optics Manufactures Lens Used in Cameras, Binoculars, and Scientific