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A company has sales of $412,000 and a cost of goods sold of $196,000. What is the gross profit margin? A) 48.06% B) 52.42% C) 59.71% D) 46.30% E) 50.63%

A company has sales of $412,000 and a cost of goods sold of $196,000. What is the gross profit margin? A) 48.06% B) 52.42% C) 59.71% D) 46.30% E) 50.63%

Intermediate Accounting: Reporting And Analysis
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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Please provide the correct answer to this financial accounting problem using accurate calculations.

A company has sales of $412,000 and a cost of goods sold of $196,000. What is the gross profit margin? A) 48.06% B) 52.42% C) 59.71% D) 46.30% E) 50.63%
Transcribed Image Text:A company has sales of $412,000 and a cost of goods sold of $196,000. What is the gross profit margin? A) 48.06% B) 52.42% C) 59.71% D) 46.30% E) 50.63%
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