Answered: An item that cost $90 is sold for $120.…

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An item that cost $90 is sold for $120. The gross profit ratio for this item is: A. 20% B. 25% C. 33.3% D. 60%

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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short answer want

An item that cost $90 is sold for $120. The gross profit ratio for this
item is:
A. 20%
B. 25%
C. 33.3%
D. 60%

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