A company has net sales of sales commissions of

Question

A company has net sales of $1,832,000, sales commissions of $194,000, net income of $366,400, and the gross profit ratio of 60%. What is the amount of cost of goods sold?
A. $ 538,800
B. $ 732,800
C. $ 655,200
D. $ 879,360
E. $1,099,200

Answer

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