Answered: If a company has net sales of $500,000…

If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is 70%. 30%. 15%. 100%.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...

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If a company has net sales of $500,000 and cost of goods sold of $350,000, the gross profit percentage is

70%.
30%.
15%.
100%.

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