Question

a company reported revenues of $377,00, cost of goods sold of $122,000, selling expense of $12000and total operating costs of 72,000. Gross margin for the year os ___

Answer 1

Answer:Gross margin =$255,000

Step-by-step explanation:

Gross margin is defined as the remainng sales revenue of a company retains after taking care or addressing the direct costs incurred in producing the goods it sells or services it renders.

When a company's cost of goods sold (COGS) subtracted from net sales revenue, the Gross margin is retained.

Gross margin= Net Sales Revenues-CostsOfGoodsSold

$377,000 - $122,000

=$255,000