The following information was taken from the 20X2 income statement of Milburn Company: Pretax profit, $12,000; Total operating expenses, $20,000; Sales revenue, $120,000. Compute the cost of goods sold.

Name: The following information was taken from the 20X2 income statement of Milburn Company: Pretax profit, $12,000; Total operating expenses, $20,000; Sales revenue, $120,000. Compute the cost of goods sold.
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Question

Quizplus · Accepted Answer

Calculation: $120,000 - 88,000 - 20,000 = $12,000.

The Following Information Was Taken from the 20X2 Income Statement