If a company has gross sales revenue of $630,000, net sales of $600,000, and cost of goods

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If a company has gross sales revenue of $630,000, net sales of $600,000, and cost of goods sold of $378,000, the gross profit rate is
1) 37%.
2) 40%
3) 60%.
4) 63%.

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Question Posted: Feb 16, 2018 07:43 AM

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If a company has gross sales revenue of $630,000, net sales of $600,000, and cost of goods

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Income Tax Fundamentals 2013

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