Question
Blossom Company reported net sales $1,020,000; cost of goods sold $663,000; operating expenses $267,750; and net income $86,700. Calculate the profit margin and gross profit
Blossom Company reported net sales $1,020,000; cost of goods sold $663,000; operating expenses $267,750; and net income $86,700. Calculate the profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.)
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Core Concepts of Accounting
Authors: Cecily A. Raiborn
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470499478, 978-0470499474
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