Answered: A compeny's net sales were S676,600,…

A compeny's net sales were S676,600, its cost of goods sold was $236,810 and its net income was $33,750. Its gross margin ratio equals Multiple Choice 2057% 35% 5% 65%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

A company's net sales were S676,600, its cost of goods sold was $236,810 and its net income was $33,750, Its gross margin ratio equals
Multiple Choice
2857%
35%
5%
65%
96%

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