Assume Oakmont Furniture reported Net Sales Revenue of $175,000 and Cost of Goods Sold totalled $122,500. What was Oakmont Furniture's 's gross profit percentage for this period? Round your answer to the nearest whole percent.

Assume Oakmont Furniture reported Net Sales Revenue of $175,000 and Cost of Goods Sold totalled $122,500. What was Oakmont Furniture's 's gross profit percentage for this period? Round your answer to the nearest whole percent.

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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Assume Oakmont Furniture reported Net Sales Revenue of
$175,000 and Cost of Goods Sold totalled $122,500. What was
Oakmont Furniture's
's gross profit percentage for this period? Round
your answer to the nearest whole percent.

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