The cost of goods sold based on the sales revenue in 2019 is $32,400
What is the cost of goods sold?
The cost of goods sold is the cost of the goods sold in a particular year, it is determine as the sales revenue minus the gross margin in dollar terms.
We need to first of all determine the sales revenue in 2019 based on 2018 sales revenue and the 2019 growth rate of 8%
2019 sales revenue=50,000*(1+8%)
2019 sales revenue=$54,000
Now the gross margin is 40% of sales revenue
cost of goods sold=sales revenue-gross margin
cost of goods sold=$54,000-(40%*$54,000)
cost of goods sold=$32,400
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