Question
Given below are account balances for Charlie Company: Gross sales, $90,000 Sales returns and allowances, $6,000 Selling expenses, $12,000 Cost of goods sold, $50,000 Interest
Given below are account balances for Charlie Company:
Gross sales, $90,000
Sales returns and allowances, $6,000
Selling expenses, $12,000
Cost of goods sold, $50,000
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
Authors: Ray H Garrison, Alan Webb, Theresa Libby
11th Canadian Edition
1259275817, 978-1259275814
