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Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of $18,000. What is its gross profit and its gross profit rate? (Round gross profit rate to 1 decimal place, e.g. 52.5%.) $ Gross profit 5700

Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of $18,000. What is its gross profit and its gross profit rate? (Round gross profit rate to 1 decimal place, e.g. 52.5%.) $ Gross profit 5700

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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*Question 15 Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of $18,000. What is its gross profit and its gross profit rate? (Round gross profit rate to 1 decimal place, e.g. 52.5%.) $ 5700 Gross profit Gross profit rate 48.7 %
Transcribed Image Text:*Question 15 Cupery Co. has sales revenue of $117,000, cost of goods sold of $60,000, and operating expenses of $18,000. What is its gross profit and its gross profit rate? (Round gross profit rate to 1 decimal place, e.g. 52.5%.) $ 5700 Gross profit Gross profit rate 48.7 %
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