Brig Company had $800,000 in net sales, $350,000 in gross profit, and $200,000 in operating expenses. Cost of goods sold equals:
A) $150,000.
B) $450,000.
C) $800,000.
D) $350,000.
E) $200,000.

Question

Quizplus · Accepted Answer

Gross profit = Net Sales - Cost of goods sold
350,000 = 800,000 - Cost of goods sold
Cost of goods sold = 800,000 - 350,000
Cost of goods sold = 450,000

Brig Company Had $800,000 in Net Sales, $350,000 in Gross