Question
Husky and Cougar are part of a Consolidated group of companies. During the current year, Cougar sells product to Husky at a 50% mark-up over
Husky and Cougar are part of a Consolidated group of companies. During the current year, Cougar sells product to Husky at a 50% mark-up over its cost. What is the gross margin on this sale?
answer choices:
100%
33%
50%
25%
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Study Guide Working Papers For College Accounting, Chapters 1-9
Authors: James A. Heintz, Robert W. Parry
23rd Edition
0357474740, 9780357474747
