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A company has sales of $389,000 and cost of goods sold of $174,000. What is the gross profit margin? (A) 30.02% (B) 65.27% (C) 50.69% (D) 60.66% (E)55.27%

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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A company has sales of $389,000 and cost of goods sold of $174,000. What is the gross profit margin? (A) 30.02% (B) 65.27% (C) 50.69% (D) 60.66% (E)55.27%

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