Question
Given below are account balances for Charlie Company: Gross sales, $100,000 Sales returns and allowances, $8,000 Selling expenses, $12,000 Cost of goods sold, $40,000 Interest
Given below are account balances for Charlie Company:
Gross sales, $100,000
Sales returns and allowances, $8,000
Selling expenses, $12,000
Cost of goods sold, $40,000
Interest expense, $3,000
How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example - enter 46% as .46)
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
6th Canadian edition
1118644948, 978-1118805084, 1118805089, 978-1118644942
