The gross profit rate is equal to: a. net income divided by sales. b. cost of goods

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The gross profit rate is equal to:

a. net income divided by sales.

b. cost of goods sold divided by sales.

c. net sales minus cost of goods sold, divided by net sales.

d. sales minus cost of goods sold, divided by cost of goods sold.

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Accounting Tools For Business Decision Making

ISBN: 9780470377857

3rd Edition

Authors: Paul D. Kimmel

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Question Posted: Feb 23, 2024 11:00 PM

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The gross profit rate is equal to: a. net income divided by sales. b. cost of goods

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Accounting Tools For Business Decision Making

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