Katz Group
Katz Group had the following income statement for the month of May. $\begin{array}{lr}
\text { Sales revenue } & \$ 428,000 \
\text { Cost of goods sold } & 205,440 \
\text { Gross margin } & 222,560\\text { Less: }\
\text { Selling expenses } & 81,32 0\
\text { Administrative expenses } & 72,760\\text { Operating income }&\$68,480
\end{array}$
-Refer to Katz Group. What was the cost of goods sold percentage?
A) 19%
B) 48%
C) 52%
D) 100%

Question

Quizplus · Accepted Answer

Cost of goods sold percentage = (Cost of goods sold / Sales revenue) * 100= (205,440 / 428,000) * 100= 48%

Katz Group Katz Group Had the Following Income Statement for the Month

Katz Group
Katz Group Had the Following Income Statement for the Month