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48. Corporation had beginning inventory of $ 26,000 and ending inventory of S 29.000. Its net sales were $149,000 and net purchases were $ 71.000.

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48. Corporation had beginning inventory of $ 26,000 and ending inventory of S 29.000. Its net sales were $149,000 and net purchases were $ 71.000. Cost of goods sold for the period was $68.000. What is Flag's gross profit percentage (rounded to the nearest whole percentage)? 52% 50%. 54% 46%

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