Question
EagleEagle Company had a $28,000 beginning inventory and a $32,000 ending inventory. Net sales were $184,000; purchases, $76,000; purchase returns and allowances $4,000; and freight
EagleEagle Company had a $28,000 beginning inventory and a $32,000 ending inventory. Net sales were $184,000; purchases, $76,000; purchase returns and allowances $4,000; and freight in, $3,000. Cost of goods sold for the period is $71,000.
What is Eagles's gross profit percentage (rounded to the nearest percentage?
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th edition
470506954, 471345881, 978-0470506950, 9780471345886, 978-0470477144
