Question

2025 fall - crn 20605
question
part 3 of 4
completed: 1 of 11 | my score: 1.33/11 pts (12.12%)
beavercreek company sold 14,000 jars of its organic honey in the most current year for $15 per jar. the company had paid $10.50 per jar of honey (assume that sales returns are nonexistent.) calculate the following

1. sales revenue
2. cost of goods sold
3. gross profit
4. calculate the sales revenue

sales revenue = $ 210,000

1. calculate the cost of goods sold

cost of goods sold =

Explanation:

Step1: Identify formula for COGS

Cost of goods sold (COGS) = Number of units sold × Cost per unit.

Step2: Plug in values

Number of units sold = 14,000 jars, Cost per unit = $10.50.
So, COGS = \( 14000 \times 10.50 \)
Calculate: \( 14000 \times 10.50 = 147000 \).

Answer:

$147,000