Question
Given below are account balances for Charlie Company: Gross sales, $104,000 Sales returns and allowances, $4,000 Selling expenses, $12,000 Cost of goods sold, $46,000 Interest
Given below are account balances for Charlie Company:
Gross sales, $104,000
Sales returns and allowances, $4,000
Selling expenses, $12,000
Cost of goods sold, $46,000
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
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
