Question
Wedge Corporation had beginning inventory of $ 34,000 and ending inventory of $35,000. Its net sales were $153,000 and net purchases were $75,000. Cost of
Wedge Corporation had beginning inventory of $ 34,000 and ending inventory of $35,000. Its net sales were $153,000 and net purchases were $75,000. Cost of goods sold for the period was $74,000.What is Wedge's gross profit percentage (rounded to the nearest whole percentage)?
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Financial Accounting Tools For Business Decision Making
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
8th Edition
1119316022, 978-1119316022
