Question
Windsor, Inc. reported net sales $720,000; cost of goods sold $468,000; operating expenses $189,000; and net income $61,200. Calculate the profit margin and gross profit
Windsor, Inc. reported net sales $720,000; cost of goods sold $468,000; operating expenses $189,000; and net income $61,200. Calculate the profit margin and gross profit rate.
Profit margin = 8.5%
Gross profit rate = ?
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Modern Auditing
Authors: William C. Boynton, Walter G. Kell, Raymond N. Johnson, Dr William Boynton
7th Edition
047118909X, 978-0471189091
