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Brighten Manufacturing has net sales of $750,000 and cost of goods sold of $450,000. What is Brighten Manufacturing's gross profit rate? a. 40% b. 60% c. 166.7% d. 37.5%

Brighten Manufacturing has net sales of $750,000 and cost of goods sold of $450,000. What is Brighten Manufacturing's gross profit rate? a. 40% b. 60% c. 166.7% d. 37.5%

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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Brighten Manufacturing has net sales of $750,000 and cost of goods sold of $450,000. What is Brighten Manufacturing's gross profit rate? a. 40% b. 60% c. 166.7% d. 37.5%
Transcribed Image Text:Brighten Manufacturing has net sales of $750,000 and cost of goods sold of $450,000. What is Brighten Manufacturing's gross profit rate? a. 40% b. 60% c. 166.7% d. 37.5%
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