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Cost of Goods Manufactured, Gross Margin, Operating Income

Author:
September 23rd, 2022

Please help with the following problems. Please provide step by step calculations for each.

2. THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 2-4.
Harding Company reports the following information:
Beginning FG Inventory, 1/1/2008 = $80,000
Ending FG Inventory, 12/31/2008= $67,000
Cost of Goods Sold = $270,000
Sales Revenue = $500,000
Operating Expenses = $145,000
What is the cost of goods manufactured for 2008?

a $230,000
b $257,000
c $283,000
d $355,000

3. What is the gross margin for 2008?

a $283,000
b $355,000
c $230,000
d $257,000

4. What is the operating income for 2008?

a $85,000.
b $112,000.
c $62,000.
d $75,000.

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