In thousands of dollars, if a company’s Sales were $551,970, Receivables were $82,500, Payables were $45,913,...

In thousands of dollars, if a company’s Sales were $551,970, Receivables were $82,500, Payables were $45,913, Inventory was $62,228, and Gross Profit was $141,710, what is COGS as a % of sales?

Expert Solution

Gross profit=Sales-COGS

COGS=(551,970-141,710)=$410260

COGS as a % of sales=COGS/Sales

=410260/551,970

=74.33%(Approx)

jeff jeffy answered 2 years ago

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