Which of the following statements is false when a company sells inventory costing $700 for $1,200?
A) Cost of goods sold is $700.
B) Gross profit is $500.
C)Stockholders' equity does not change.
D)Net sales increases $500.

Name: Which of the following statements is false when a company sells inventory costing $700 for $1,200? A) Cost of goods sold is $700. B) Gross profit is $500. C)Stockholders' equity does not change. D)Net sales increases $500.
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Question

Quizplus · Accepted Answer

Net sales increases by $1,200, not $500.

Which of the Following Statements Is False When a Company