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Last year, Flip Flop Shoe Company had gross margin of $600,000 on $1,000,000 of sales revenue and had selling and administrative costs of $250,000. The
Last year, Flip Flop Shoe Company had gross margin of $600,000 on $1,000,000 of sales revenue and had selling and administrative costs of $250,000. The company started the year with $1,500,000 of operating assets and ended the year with $1,300,000 of operating assets. Compute the companys margin.
A : 30%
B : 25%
C : 35%
D : 60%
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