Place the letter corresponding to your answer on the answer sheet provided Answer questions 1-3 using the information below:
Beginning finished goods, 1/1/2013 $40,000
Ending finished goods, 12/31/2013 80,000
Cost of goods sold 270,000
Sales revenue 553,000
Operating expenses 171,000
1. What is cost of goods manufactured for 2013?
A. $310,000
B. $297,000
C. $283,000
D. $230,000
E. None of the above
2. What is gross margin for 2013?
A. $287,000
B. $355,000
C. $230,000
D. $283,000
E. None of the above
3. What is operating income for 2013?
A. $230,000
B. $112,000
C. $62,000
D. $85,000
E. None of the abov