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Assume a company provided the following information: Sales Inventory balance, beginning of the year Inventory balance, end of the year Average sale period $ 178,000

Assume a company provided the following information: Sales Inventory balance, beginning of the year Inventory balance, end of the year Average sale period $ 178,000 $ 11,000 $13,000 50 days The gross margin percentage is closest to: (Round your final answer to the whole percentage.) Multiple Choice 47% 51% 43%

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