A companys net sales are $675,000, its cost of goods sold is $459,000, and its net income
Question:
A company’s net sales are $675,000, its cost of goods sold is $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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Related Book For
College Accounting Ch 1-14
ISBN: 9781260904314
1st Edition
Authors: John Wild, Vernon Richardson, Ken Shaw
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