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Aster Retailers has sales of $520,000 and cost of goods sold of $312,000. What is the gross profit margin? (A) 30% (B) 65% (C) 40% (D) 60% (E)55%

Aster Retailers has sales of $520,000 and cost of goods sold of $312,000. What is the gross profit margin? (A) 30% (B) 65% (C) 40% (D) 60% (E)55%

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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What is the gross profit margin?

Aster Retailers has sales of $520,000 and cost of goods sold of $312,000. What is the gross profit margin? (A) 30% (B) 65% (C) 40% (D) 60% (E)55%
Transcribed Image Text:Aster Retailers has sales of $520,000 and cost of goods sold of $312,000. What is the gross profit margin? (A) 30% (B) 65% (C) 40% (D) 60% (E)55%
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