Gross Profit ratio (2 questions)

Anonymous
timer Asked: Dec 26th, 2017

Question description

Question 1

Financial information is presented below:

Operating expenses

$ 31000

Sales returns and allowances

9000

Sales discounts

5000

Sales revenue

162000

Cost of goods sold

108000


The gross profit rate would be

0.27.

0.72.

0.33.

0.25.

Question 2

Financial information is presented below:

Operating expenses

$ 50000

Sales returns and allowances

4000

Sales discounts

7000

Sales revenue

160000

Cost of goods sold

94000


Gross Profit would be

$70000.

$62000.

$66000.

$55000.

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