Filmore Enterprises
The following information is from Filmore's 2012 accounting records.

- Refer to the information provided for Filmore Enterprises. Using the gross profit method, estimate Filmore's cost of goods sold at year-end.
A) $109,200
B) $102,900
C) $72,800
D) $78,200

Question

Filmore Enterprises 
The following information is from Filmore's 2012 accounting records.

- Refer to the information provided for Filmore Enterprises. Using the gross profit method, estimate Filmore's cost of goods sold at year-end.
A) $109,200 
B) $102,900 
C) $72,800 
D) $78,200

Quizplus · Accepted Answer

Gross profit = Sales - Cost of goods soldCost of goods sold = Sales - Gross profit= $182,000 - $72,800= $109,200

Filmore Enterprises The Following Information Is from Filmore's 2012 Accounting Records