(L04) (Gross Profit Method) Each of the following gross profit percentages is expressed in terms of cost....
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(L04) (Gross Profit Method) Each of the following gross profit percentages is expressed in terms of cost.
1. 20%. 3. 331/3%.
2. 25%. 4. 50%.
Instructions Indicate the gross profit percentage in terms of sales for each of the above.
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