Following are the Dhofar Company's information: Gross sales. . OMR 255000, ....... Sales returns and discounts.. OMR 5000. Opening Inventory...OMR 15000 Total Purchases... OMR 250000 Purchase returns... OMR 25000 Closing Inventory... OMR 20000 According to above values, which of the following is the correct Gross Profit Margin (in %) of the company?
Following are the Dhofar Company's information: Gross sales. . OMR 255000, ....... Sales returns and discounts.. OMR 5000. Opening Inventory...OMR 15000 Total Purchases... OMR 250000 Purchase returns... OMR 25000 Closing Inventory... OMR 20000 According to above values, which of the following is the correct Gross Profit Margin (in %) of the company?
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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![Following are the Dhofar Company's information:
Gross sales.. . OMR 255000,
Sales returns and discounts... OMR 500.
Opening Inventory....OMR 15000
Total Purchases... OMR 250000
Purchase returns... OMR 25000
Closing Inventory... OMR 20000
According to above values, which of the following is the correct Gross Profit Margin (in %) of the company?
Select one:
O a. 8%
Ob. 12%
c. 20%
d. 16%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5aa9e1d1-5a28-4a71-b589-4324632ca0a3%2F40a02d78-1488-4ad4-8e18-41402b13f969%2F03aucwf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Following are the Dhofar Company's information:
Gross sales.. . OMR 255000,
Sales returns and discounts... OMR 500.
Opening Inventory....OMR 15000
Total Purchases... OMR 250000
Purchase returns... OMR 25000
Closing Inventory... OMR 20000
According to above values, which of the following is the correct Gross Profit Margin (in %) of the company?
Select one:
O a. 8%
Ob. 12%
c. 20%
d. 16%
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