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Q5.20: In the Clark Company, sales were $320,000, sales returns and allowances were $20,000, and cost of goods sold was $180,000. The gross profit rate

Q5.20: In the Clark Company, sales were $320,000, sales returns and allowances were $20,000, and cost of goods sold was $180,000. The gross profit rate was 56.3%. B 40%. 60%. 37.5%

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