Each of the following gross profit percentages is expressed in terms of cost. 1. 22%. 2. 28%. 3. 36.67%. 4. 55%. Indicate the gross profit percentage in terms of sales for each of the above. (Round answers to 2 decimal places, eg. 78.73%.)

Each of the following gross profit percentages is expressed in terms of cost. 1. 22%. 2. 28%. 3. 36.67%. 4. 55%. Indicate the gross profit percentage in terms of sales for each of the above. (Round answers to 2 decimal places, eg. 78.73%.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter6: Merchandising Transactions

Section: Chapter Questions

Problem 22Q: The following is select account information for August Sundries. Sales: $850,360; Sales Returns and...

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