Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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A company's net sales are $675,000, its costs of goods sold are
$459,000, and its net income is $74,250. Its gross margin ratio
equals:
a. 32%
b. 68%
c. 47%
d. 11%
e. 34%
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Transcribed Image Text:A company's net sales are $675,000, its costs of goods sold are $459,000, and its net income is $74,250. Its gross margin ratio equals: a. 32% b. 68% c. 47% d. 11% e. 34%
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Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning