Given the following information, what is the gross margin percentage? Sales Revenue $145,600 Sales Discounts $7,200 Sales Returns and Allowances $5,300 Transportation-In $6,400 Cost of Goods Sold (COGS) $65,900 Options: (a) 52.6% (b) 48.1% (c) 50.5% (d) 46.7%

Given the following information, what is the gross margin percentage? Sales Revenue $145,600 Sales Discounts $7,200 Sales Returns and Allowances $5,300 Transportation-In $6,400 Cost of Goods Sold (COGS) $65,900 Options: (a) 52.6% (b) 48.1% (c) 50.5% (d) 46.7%

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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Question

Gross profit percentage?

Given the following information, what is the gross margin percentage?
Sales Revenue
$145,600
Sales Discounts
$7,200
Sales Returns and Allowances $5,300
Transportation-In
$6,400
Cost of Goods Sold (COGS)
$65,900
Options:
(a) 52.6%
(b) 48.1%
(c) 50.5%
(d) 46.7%

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