Question
Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2010: Net sales $450,000 Inventory, 1/1/10 $48,400 Cost
Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2010: Net sales $450,000 Inventory, 1/1/10 $48,400 Cost of goods sold $299,500 Inventory 12/31/10 $49,670 What is Medinas gross profit ratio for 2010?
a. 33.44% b. 50.25% c. 66.55% d. 299.00%
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Keisters Corporation Accounting And Auditing
Authors: David Armel Keister
1st Edition
1019058382, 978-1019058381
