Accounting

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The following financial information pertains to Copper Supply Company:

• Cash sales, $150,000
• Credit sales, $450,000
• Selling and administrative expenses, $95,000
• Sales returns and allowances, $15,000
• Gross profit, $325,000
• Increase in accounts receivable, $25,000
• Bad debt expense, $8,000
• Sales discounts, $22,500
• Net income, $100,000

Copper's cost of goods sold is _____. 

 

[removed]A.

$245,500

[removed]B.

$275,000

[removed]C.

$237,500

[removed]D.

$212,500

    • 7 years ago
    • 5
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