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A Retail Store Prices Its Goods to Achieve a Gross

Question 133

Multiple Choice

A retail store prices its goods to achieve a gross margin of 30 percent. Up to the date of a fire that destroyed the store's inventory, sales were $200,000 and cost of goods available for sale was $150,000. The estimated cost of the inventory destroyed is


A) $10,000.
B) $35,000.
C) $60,000.
D) $50,000.

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