Question
Given below are account balances for Charlie Company: Gross sales, $100,000 Sales returns and allowances, $7,000 Selling expenses, $12,000 Cost of goods sold, $42,000 Interest
Given below are account balances for Charlie Company:
Gross sales, $100,000
Sales returns and allowances, $7,000
Selling expenses, $12,000
Cost of goods sold, $42,000
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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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
2nd Canadian Edition
0471413658, 978-0471413653
