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Smith & Sons reports the following data at year-end: Net Sales $100,000 Cost of Goods Sold $60,000 Net Income $20,000 What is their gross profit
Smith & Sons reports the following data at year-end:
Net Sales $100,000
Cost of Goods Sold $60,000
Net Income $20,000
What is their gross profit percentage?
| 40% |
| 80% |
| 60% |
| 20% |
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Philosophy Of Auditing
Authors: Robert K. Mautz
19th Edition
0865390029, 978-0865390027
