Willis Hardware

Willis Hardware had a beginning inventory of $160,000 at cost. During the month, Willis purchased and received $100,000 in goods and had net sales of $200,000. Throughout the month, Willis maintained a 40% markup on all sales.
-Refer to Willis Hardware. What was the cost of goods sold?

Question

​Willis Hardware
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Willis Hardware had a beginning inventory of $160,000 at cost. During the month, Willis purchased and received $100,000 in goods and had net sales of $200,000. Throughout the month, Willis maintained a 40% markup on all sales.
-Refer to Willis Hardware. What was the cost of goods sold?​

Quizplus · Accepted Answer

The Answer of ​Willis Hardware
​
Willis Hardware had a beginning inventory of $160,000 at cost. During the month, Willis purchased and received $100,000 in goods and had net sales of $200,000. Throughout the month, Willis maintained a 40% markup on all sales.
-Refer to Willis Hardware. What was the cost of goods sold?​

​Willis Hardware ​

Willis Hardware