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Erik Furnishings has sales of $462,000 and a cos tof goods sold of $193,000. What is the gross profit margin? A) 48.7% B) 58.2% C) 60.3% D) 2.6% E) 55.0%

Erik Furnishings has sales of $462,000 and a cos tof goods sold of $193,000. What is the gross profit margin? A) 48.7% B) 58.2% C) 60.3% D) 2.6% E) 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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Erik Furnishings has sales of $462,000 and a cos tof goods sold of $193,000. What is the gross profit margin? A) 48.7% B) 58.2% C) 60.3% D) 2.6% E) 55.0%

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