Falcon Enterprises reported the following financial data: Net Sales = $1,050, 600 . Cost of Goods Sold (COGS) = $573, 200 . Net Income = $195, 400 (Not needed for this calculation) Calculate Falcon Enterprises' Gross Margin Ratio.
Falcon Enterprises reported the following financial data: Net Sales = $1,050, 600 . Cost of Goods Sold (COGS) = $573, 200 . Net Income = $195, 400 (Not needed for this calculation) Calculate Falcon Enterprises' Gross Margin Ratio.
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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Falcon Enterprises reported the following

Transcribed Image Text:Falcon Enterprises reported the following
financial data:
Net Sales = $1,050, 600
. Cost of Goods Sold (COGS) = $573, 200
. Net Income = $195, 400 (Not needed for
this calculation)
Calculate Falcon Enterprises' Gross Margin
Ratio.
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