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Strom Inc. has $46,400 gross profit from sales and $160,000 net sales in the current year. Which of the following statements is correct? Multiple Choice
Strom Inc. has $46,400 gross profit from sales and $160,000 net sales in the current year. Which of the following statements is correct? Multiple Choice The gross profit margin is 29% Each $1 of sales yield 29 cents in gross profit There is 29% sales dollars left over after covering cost of goods sold The gross profit ratio is 29% All of the choices are correct.
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