Description
Financial information is presented below:
Operating expenses | $ 23000 |
Sales returns and allowances | 5000 |
Sales discounts | 3000 |
Sales revenue | 148000 |
Cost of goods sold | 102000 |
The gross profit rate would be
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Explanation & Answer
solution (D) 0.31.Explanation:148000-102000 =46,000 so, 46,000/148000= 31...
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