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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Provide answer general Accounting question

Sales for a firm are $541,000, cost of goods sold are $401,000,
and interest expenses are $17,000. What is the gross profit
margin? The gross profit margin is
A. 26.9%
B. 21.2%
C. 26.4%
D. 25.9%
E. 26.2%
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Transcribed Image Text:Sales for a firm are $541,000, cost of goods sold are $401,000, and interest expenses are $17,000. What is the gross profit margin? The gross profit margin is A. 26.9% B. 21.2% C. 26.4% D. 25.9% E. 26.2%
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Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning