Question
Tonga Industries reported the following: Net Sales $450,000 Cost of goods sold $360,000 Operating expenses $60,000 Tax Rate 40% The gross profit percentage is:
Tonga Industries reported the following:
| Net Sales | $450,000 | Cost of goods sold | $360,000 |
| Operating expenses | $60,000 | Tax Rate | 40% |
The gross profit percentage is:
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
