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Assume a company provided the following information: Sales $ 188,000 Inventory balance, beginning of the year $ 11,000 Inventory balance, end of the year $
Assume a company provided the following information:
| Sales | $ 188,000 | |
|---|---|---|
| Inventory balance, beginning of the year | $ 11,000 | |
| Inventory balance, end of the year | $ 13,000 | |
| Average sale period | 50 | days |
The gross margin percentage is closest to: (Round your final answer to the whole percentage.)
Multiple Choice
49%.
53%.
45%.
57%.
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Accounting And Finance For Non-Specialists
Authors: Eddie McLaney, Peter Atrill
3rd Edition
9780273646327
