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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 ___

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tutorAnne

Answer:Gross margin =$255,000

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

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