Given the following information, what is the gross margin percentage? Sales Revenue Sales Discounts $145,600 $7,200 Sales Returns and Allowances $5,300 Transportation-In $6,400 Cost of Goods Sold (COGS) $65,900

Given the following information, what is the gross margin percentage? Sales Revenue Sales Discounts $145,600 $7,200 Sales Returns and Allowances $5,300 Transportation-In $6,400 Cost of Goods Sold (COGS) $65,900

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, what is the gross margin
percentage?
Sales Revenue
Sales Discounts
$145,600
$7,200
Sales Returns and Allowances $5,300
Transportation-In
$6,400
Cost of Goods Sold (COGS) $65,900

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