Question
Impact Corporation reported $460,000 of revenue for the year. Selling expenses amounted to $51,000, and administrative expenses were $78,000. Cost of goods sold was 40%
Impact Corporation reported $460,000 of revenue for the year. Selling expenses amounted to $51,000, and administrative expenses were $78,000. Cost of goods sold was 40% of revenue. Impact's gross margin is:
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Comparative International Accounting
Authors: Christopher Nobes, R. H. Parker
7th Edition
0273655833, 9780273655831
