Searls Corporation, a merchandising company, reported the following results for July: Cost of goods sold is a variable cost in this company. The gross margin for July is:

Name: Searls Corporation, a merchandising company, reported the following results for July: Cost of goods sold is a variable cost in this company. The gross margin for July is:
Brand: Quizplus
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Question

Searls Corporation, a merchandising company, reported the following results for July:  Cost of goods sold is a variable cost in this company. The gross margin for July is:

Quizplus · Accepted Answer

Gross margin is calculated by subtracting cost of goods sold from net sales. Therefore, gross margin for July is:
$2,317,400 - $1,618,100 = $699,300.

Searls Corporation, a Merchandising Company, Reported the Following Results for July