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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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Please given correct answer general accounting
![Given the following information, what is the gross margin percentage?
Sales
Sales discounts
$129,400
6,100
Sales returns and allowances 4,700
Transportation-In
Cost of goods sold
A. 55.4%.
B. 47.8%
C. 54.6%
D. 50.4%
5,900
58,800](https://content.bartleby.com/qna-images/question/3f18c3ff-c186-4e55-9488-e492aff1681e/e488fb5e-2d7c-4c2b-80b7-c1d6fe43c885/bi2ogeo_thumbnail.jpeg)
Transcribed Image Text:Given the following information, what is the gross margin percentage?
Sales
Sales discounts
$129,400
6,100
Sales returns and allowances 4,700
Transportation-In
Cost of goods sold
A. 55.4%.
B. 47.8%
C. 54.6%
D. 50.4%
5,900
58,800
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