A companys net sales are $675,000, its costs of goods sold are $459,000, and its net income

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A company’s net sales are $675,000, its costs of goods sold are $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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Fundamental Accounting Principles Volume 2

ISBN: 9780077716660

21st Edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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