Your campus computer store reported Sales Revenue of $168,000. The company's gross profit percentage was 60.0 percent. What amount of Cost of Goods Sold did the company report?

COGS = $67,200

Explanation:

Giving the following information:

Your campus computer store reported:

Sales Revenue of $168,000.

The company's gross profit percentage was 60%.

Gross profit = sales revenue - cost of goods sold

sales = 168,000

COGS=?

gross profit = 168,000*0.6 = 100,800

COGS = 168,000 - 100,800 = $67,200