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Given the following information for OLD Electronics, what is the gross margin percentage? Sales $640,000 Sales Discounts $12,500 Sales Returns and Allowances $50,000 Cost of Goods Sold (COGS) $360,000

Given the following information for OLD Electronics, what is the gross margin percentage? Sales $640,000 Sales Discounts $12,500 Sales Returns and Allowances $50,000 Cost of Goods Sold (COGS) $360,000

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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Given the following information for OLD Electronics, what is the gross margin percentage?

Given the following information for OLD Electronics, what is the gross margin percentage? Sales $640,000 Sales Discounts $12,500 Sales Returns and Allowances $50,000 Cost of Goods Sold (COGS) $360,000
Transcribed Image Text:Given the following information for OLD Electronics, what is the gross margin percentage? Sales $640,000 Sales Discounts $12,500 Sales Returns and Allowances $50,000 Cost of Goods Sold (COGS) $360,000
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