Austin Sound made net sales of $85,000, and cost of goods sold totaled $51,000. Average inventory was

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Austin Sound made net sales of $85,000, and cost of goods sold totaled $51,000. Average inventory was Sl~,000. What was Austin Sound's gross profit percentage for this period?

a. 34%

b. 40%

c. 60%

d. 3.0 times

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Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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Question Posted: May 10, 2024 01:49 AM

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Austin Sound made net sales of $85,000, and cost of goods sold totaled $51,000. Average inventory was

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Accounting

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