Question
Given below are account balances for Charlie Company: Gross sales, $100,000 Sales returns and allowances, $4,000 Selling expenses, $12,000 Cost of goods sold, $48,000 Interest
Given below are account balances for Charlie Company:
Gross sales, $100,000
Sales returns and allowances, $4,000
Selling expenses, $12,000
Cost of goods sold, $48,000
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)
Your Answer:
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
5th edition
134128524, 978-0134128528
