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How much is Newark cost of goods sold

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Reference no: EM133064070

Question - Newark Company has provided the following information:

Cash sales, $450,000

Credit sales, $1,350,000

Selling and administrative expenses, $330,000

Gross margin, $1,360,000

Increase in accounts receivable, $55,000

Bad debt expense, $33,000

Net income, $1,030,000

Required - How much is Newark's cost of goods sold?

a. $307,000.

b. $252,000.

c. $440,000.

d. $340,000.

Reference no: EM133064070

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