Given the following information for OCE Electronics, what is the gross margin percentage? Sales Sales Discounts $720,000 $15,800 Sales Returns and Allowances $58,000 Cost of Goods Sold (COGS) $398,000

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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What is the gross margin percentage?

Given the following information for OCE Electronics,
what is the gross margin percentage?
Sales
Sales Discounts
$720,000
$15,800
Sales Returns and Allowances $58,000
Cost of Goods Sold (COGS)
$398,000
Transcribed Image Text:Given the following information for OCE Electronics, what is the gross margin percentage? Sales Sales Discounts $720,000 $15,800 Sales Returns and Allowances $58,000 Cost of Goods Sold (COGS) $398,000
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