A retail store sells t-shirts for $85 and purchases them for $60. The store's cost of goods sold would be:

Name: A retail store sells t-shirts for $85 and purchases them for $60. The store's cost of goods sold would be:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost of goods sold is calculated by subtracting the cost of the merchandise from the selling price. In this case, the cost of the t-shirt is $60 and the selling price is $85, so the cost of goods sold is $60. Therefore, the correct answer is option C.

A Retail Store Sells T-Shirts for $85 and Purchases Them