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Calculate the gross margin percentage using this data: Sales: $180,000 Sales discounts: $9,000 Sales returns and allowances: $6,000 Transportation-In: $4,500 Cost of goods sold: $82,500 A. 50.0% B. 51.2% C. 54.2% D. 55.0%

Calculate the gross margin percentage using this data: Sales: $180,000 Sales discounts: $9,000 Sales returns and allowances: $6,000 Transportation-In: $4,500 Cost of goods sold: $82,500 A. 50.0% B. 51.2% C. 54.2% D. 55.0%

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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Calculate the gross margin percentage using this data: Sales: $180,000 Sales discounts: $9,000 Sales returns and allowances: $6,000 Transportation-In: $4,500 Cost of goods sold: $82,500 A. 50.0% B. 51.2% C. 54.2% D. 55.0%
Transcribed Image Text:Calculate the gross margin percentage using this data: Sales: $180,000 Sales discounts: $9,000 Sales returns and allowances: $6,000 Transportation-In: $4,500 Cost of goods sold: $82,500 A. 50.0% B. 51.2% C. 54.2% D. 55.0%
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