A company shows the following balances: Sales Revenue $2962000 Sales Returns and Allowances 402000 Sales Discounts 60000 Cost of Goods Sold 1350000 What is the gross profit rate? 46.0% 58.0% 54.0% 66.0%
A company shows the following balances: Sales Revenue $2962000 Sales Returns and Allowances 402000 Sales Discounts 60000 Cost of Goods Sold 1350000 What is the gross profit rate? 46.0% 58.0% 54.0% 66.0%
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...
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A company shows the following balances:
Sales Revenue $2962000
Sales Returns and Allowances 402000
Sales Discounts 60000
Cost of Goods Sold 1350000
What is the gross profit rate?
46.0%
58.0%
54.0%
66.0%
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